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Senate Postpones Sexual Assault Hearing After Only 3 Show Up

By Elizabeth Vlock The Senate Judiciary Committee was scheduled Thursday morning to hold a hearing on S.250, a bill designed to alleviate the significant amount of backlogged DNA collected from crime scenes, particularly sexual assaults. Unfortunately, the committee members did not have the requisite quorum, or number of Congressional members present,  to debate the bill’s […]

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Boehner Presses Obama, Senate Dems To Take Up House-Passed Jobs Bills

House Speaker John Boehner (R-Ohio) released a video increasing pressure on President Obama and Senate Democrats to take up a handful of House-passed bills.

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Rumsfeld Heads To The Hill, Speaks Out Against “Law of the Sea”

Former Defense Secretary Donald Rumsfeld testified before the Senate Foreign Relations Committee on Thursday to vehemently defend and reevaluate former President Ronald Reagan’s concerns against the passage of “The Law of the Sea Convention.”

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Dimon Apologizes On Behalf Of JPMorgan

By Cassandra Novick Jamie Dimon, Chairman and CEO of JPMorgan, apologized to the Senate and everyone JPMorgan “let down” after losing 2 billion dollars as a result of a faulty hedging strategy. Dimon followed his apology with an explanation containing what he dubbed as reasons, not excuses. “This portfolio morphed into something that, rather than […]

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Dimon: Some New Financial Regulations Simply Don’t Make Sense

By Cassandra Novick After some lawmakers accused Chairman and CEO of JP Morgan, Jamie Dimon, of fighting helpful financial reforms, Dimon shot back that he has not fought all reform and that he is entitled to tell the Senate what reforms do not make sense. “I want a strong financial system like you do, we have […]

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Dimon: Financial Regulations Likely Harder For Smaller Banks

By Cassandra Novick Senator Johanns (R-NE) jokingly noted JP Morgan’s lack of presence in Nebraska in order to transition into his concerns for how financial regulations will affect his constituents, which include small and medium sized banks. “What I suspect is happening is that our medium to small banks are now trying to navigate through […]

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Dimon Laments Lack Of Bipartisan Talk On Financial Reform

By Cassandra Novick After acknowledging that he did not know if Dodd-Frank has made the financial sector any safer, Jamie Dimon was asked what would he do to make the financial system safer. “The biggest disappointment I’ve had is that we have never actually sat down Republicans, Democrats, businesses and had real detailed conversations about […]

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Dimon Doubts Effectiveness Of Volcker Rule

JP Morgan Chase President and CEO Jamie Dimon doubts that an appropriate definition can be made between proprietary trading and hedging despite also mentioning that the Volcker Rule may have helped prevent larger losses for JP Morgan. “I think the devil is going to be in the detail in how these rules are written to […]

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JPMorgan Chase’s Dimon Divulges Lesson Learned

During questioning by the US Senate Committee on Banking, Housing, and Urban Affairs, Chairman and CEO of JP Morgan, Jamie Dimon divulged the lessons he learned from JP Morgan’s 2 billion dollar loss. “No matter how good you are, how competent you are, never ever get complacent in risk.”

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Graham Describes Sequestration As A Dubious, Bipartisan “Accomplishment”

During a hearing with a Senate Appropriations Subcommittee, Sen. Lindsey Graham (R-S.C.) said that sequestration amounted to a dubious, bipartisan “accomplishment.” Graham added that it was going to take a similar level of bipartisanship to take the country out of the looming crisis.

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