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June 13th, 2012
08:28 PM ET
Burnett deconstructs Jamie Dimon's testimony: Does it add up?
CNN's Erin Burnett has interviewed JPMorgan CEO Jamie Dimon in the past and weighed in on his testimony on Capitol Hill. Burnett highlighted Dimon's prepared statement on the bank's loss, saying it was a 'isolated incident.'
Burnett noted that every CEO who finds themselves in the same situation as JPMorgan says it was an isolated incident.
Is the JPMorgan mult-billion dollar loss a 'isolated incident'? Does it add up?
Tune in to Erin Burnett OutFront at 7p/11p ET.
re: the Jamie Dimon story – something I rarely see covered: the trades were being done by a London branch. Would that be under UK jurisdiction and out of the reach of Congress to do anything about it, Dodd-Frank notwithstanding?
Here's what it seems like to me: the multinational corporations act "above the law" because if something is illegal in one jurisdiction, they just have it done by a subsidiary somewhere, where whatever it is, is unregulated.