This is short and a must see.

Freshman Rep. Katie Porter makes a complete fool out of Jamie Dimon on the floor of the House.

The version with the white board is hard to find. All the msm versions cut the white board out because a picture is worth a thousand words, and they didn't want Dimon to look as stupid as he did.

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Raggedy Ann's picture

but, what will the end result be? A higher wage? Doubtful. He's got to THINK ABOUT IT, which means HE WILL DO NOTHING TO SOLVE IT. Nice try Ms. Porter! Fool

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21 users have voted.

Women are human beings, not prey.
(I forgot where I read it although it might have been in The Intercept)

dkmich's picture

@Raggedy Ann

Just the sheer pleasure of humiliating the crook on the record.

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"Religion is what keeps the poor from murdering the rich."--Napoleon

*donate to c99 *like us on Facebook *follow us on Twitter

Raggedy Ann's picture

@dkmich
will be lacking. Sorry - it was a rhetorical question. The majority of the 99% know that there will be no end result for the poor worker.

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5 users have voted.

Women are human beings, not prey.
(I forgot where I read it although it might have been in The Intercept)

snoopydawg's picture

@dkmich

Hell, I can come up with a way to fix the problem. Raise the pay of his employees. See? Easy Peasy. But then his salary would go down by a couple million. Just how many millions people need to live on? Bezos will never come close to spending his over $150 billion. At the start of Trump's presidency Bezos was only worth $100 billion. I'd sure love to know what it is now.

Edited

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America is a pathetic nation; a fascist state fueled by the greed, malice, and stupidity of her own people.
- strife delivery

Wink's picture

give her a $600 /mo. raise
then I have to give everyone
a $600 /mo. raise.
And J.P. can't afford that. I would
suggest, instead, that she move into
an $800 /mo. apartment, giving her $200 /mo.
wiggle room. – J. Dimon

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18 users have voted.

the little things you can do are more valuable than the giant things you can't! - @thanatokephaloides. On Twitter @wink1radio. (-2.1) All about building progressive media.

Wally's picture

That's incredible.

Amazing.

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Lily O Lady's picture

@Wally

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12 users have voted.

"The object of persecution is persecution. The object of torture is torture. The object of power is power. Now do you begin to understand me?" ~Orwell, "1984"

Wally's picture

@Lily O Lady . . . in a congressional hearing. Not the typical scene in those hallowed halls at all.

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dkmich's picture

@Wally

She did everything to embarass him but call him stupid.

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8 users have voted.

"Religion is what keeps the poor from murdering the rich."--Napoleon

*donate to c99 *like us on Facebook *follow us on Twitter

Centaurea's picture

@dkmich

he's too stupid and ignorant to understand why he should be embarrassed.

People like Dimon are an embarrassment to the human race.

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8 users have voted.

"Don't go back to sleep ... Don't go back to sleep ... Don't go back to sleep."
~Rumi

"If you want revolution, be it."
~Caitlin Johnstone

@Centaurea what Porter is asking him about. He has never had a face to face with a renter. (Not renters of a Swiss chalet, etc...)He has had no personal relationship with anybody who buys food and clothing only when it goes on sale. He has never shopped at any store, other than some designer clothing store, although he likely always had tailors come to his home.
He doesn't talk to taxi drivers. He goes in limos.
He is as far from the existence of the 99%ers as an astronaut born and raised on the moon, a Duke of Earl behind a wall, travelling in a gilded carriage.
I call him ignorant. He has absolutely to knowledge, no education, no exposure to us.

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Centaurea's picture

@on the cusp @on the cusp

is that he doesn't want to know.

Every day he makes decisions that affect all of us. Yet he has no desire to recognize and understand the consequences of his actions on his fellow human beings.

His ignorance is willful, and he no doubt believes it's justified. He's proud of himself.

That takes him beyond mere ignorance into sociopathy.

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13 users have voted.

"Don't go back to sleep ... Don't go back to sleep ... Don't go back to sleep."
~Rumi

"If you want revolution, be it."
~Caitlin Johnstone

@Centaurea It is all perfect for him and his fellow 1%.
Anything fair costs them. They are under no pressure to be fair. He will suffer nothing after that dressing down.

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10 users have voted.

@on the cusp
Dimon is in the 0.00025% (of the US, nevermind the world -- more like 0.000003% of the world).

He is an entirely different breed from almost anybody that most people will ever meet.

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7 users have voted.

The earth is a multibillion-year-old sphere.
The Nazis killed millions of Jews.
On 9/11/01, a Boeing 757 (AA Flight 77) flew into the Pentagon.
If you can't accept these indisputable facts, I can't fake an interest in your opinions about anything else.

@UntimelyRippd He is a much richer bastard that I realized.

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Lenzabi's picture

Aye, but considering how fat his own salary is and those at the top who have given themselves so much of the payroll pie over the decades, as they cut back on the workers wh0o help them get their fatty paychecks,,,Makes me think they are greedy and stupid.

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18 users have voted.

So long, and thanks for all the fish

AOC may be getting all the press, but in the long run, Katie Porter is freaking BRILLIANT!!! And, more than a few people in the House, and in the media, are beginning to come to that conclusion, as well.

This Dimon piece is overwhelmingly powerful! Very grateful for you bringing this to our attention. Thank you!

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21 users have voted.

"Freedom is something that dies unless it's used." --Hunter S. Thompson

dkmich's picture

@bobswern

She and this piece deserve a ton more press.

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"Religion is what keeps the poor from murdering the rich."--Napoleon

*donate to c99 *like us on Facebook *follow us on Twitter

Anja Geitz's picture

Might help him answer the question?

Diablo

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If we surrendered to earth's intelligence we could rise up rooted, like trees
~ Rainer Maria Rilke

Raggedy Ann's picture

@Anja Geitz
Lol

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6 users have voted.

Women are human beings, not prey.
(I forgot where I read it although it might have been in The Intercept)

Lily O Lady's picture

one person so as to look magnanimous, but unwilling to be fair to all. Charity is just another scam IMO.

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20 users have voted.

"The object of persecution is persecution. The object of torture is torture. The object of power is power. Now do you begin to understand me?" ~Orwell, "1984"

I think we all need a raise but I also think there is a real housing crisis. Rent is too high for our wages because rental supply is too low. So how do we get more rental buildings? I know Chicago back in the 1950s worked with developers increasing density by razing smaller dwellings and building the four-plus-one apartments. NYC in the 1920s and 30s had a big (huge) density push in Brooklyn and the dense development of farmland in The Bronx. Why can't we do something like that today? I don't know. I would say link that up with the infrastructure rebuild everyone is talking about on the Left. Cities hooking up with banks and developers to get it done.

Bring our troops home!

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@p cook bumping wages will just push up rents (more money chasing the same housing supply), which will leave the average worker little or no better off. Increasing affordable housing would push rents down and result in a net benefit in quality of life. That being said, I am fully behind representative Porter's takedown of Dimon who runs a semi-legal racket.

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@Roy Blakeley Solutions. Not grandstanding.

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snoopydawg's picture

@p cook

empty houses and more than there are homeless people? Salt Lake City Utah has done some great things to get homeless people into houses. And both SLC and Ogden are building lots of very ugly apartment buildings where more than a hundred people live in the groups of them. Yuck. I'd hate to live in one like that, especially since they are being built in the middle of the busy parts of the city.
We are still building lots of new homes though, but they too are butt ugly and way too big.

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8 users have voted.

America is a pathetic nation; a fascist state fueled by the greed, malice, and stupidity of her own people.
- strife delivery

@snoopydawg Jamie Dimon would know all about that. I wish the representative would have asked him about finding that woman and her child one of those homes, with foreclosure numbers to back her up! Or asked him about ways to solve the affordable housing crises through partnerships with cities, banks, and developers. Gentrification in our major cities has reduced rentals. Washington DC is undergoing that right now. I am pretty poor and have experienced the problem first hand in Chicago.

Peace.

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@p cook @p cook
So, here's a story about Steven Schwarzman, CEO of Blackstone, acknowledging the existence of a broad "income insufficiency" problem, and advocating among other things a much higher minimum wage.

Schwarzman’s plan would eliminate taxes for teachers, introduce a higher minimum wage and more technical training for people who don’t go to college.

What Schwarzman did not mention is that the company he runs was singled out by a UN report for actively making housing less affordable. During the economic collapse Blackstone slurped up enormous holdings at bargain-basement prices from banks and liquidators who did what they always do when liquidating during a market crisis: Package up the assets into large blocs that cannot be purchased by individuals, and auction them off to their pals, while letting the government eat the banks' losses. Schwarzman big concern is not that folks can't afford to pay rent -- it's that they can't afford to pay the rent that Blackstone wants to collect on properties it acquired for dimes on the dollar.
I haven't seen the numbers, but I'd guess that this particular event -- the foreclosure and subsequent fire-sale of those owner-occupied homes, transforming them into rental stock owned by a very small number of Blackstone equity holders -- was one of the largest transfers of wealth in the history of history, ranking up there with Henry VIII seizing church assets, the Bolsheviks seizing aristocratic assets, the Russian oligarchs grabbing the people's assets, and the Europeans grabbing the Americas and Africa.

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6 users have voted.

The earth is a multibillion-year-old sphere.
The Nazis killed millions of Jews.
On 9/11/01, a Boeing 757 (AA Flight 77) flew into the Pentagon.
If you can't accept these indisputable facts, I can't fake an interest in your opinions about anything else.

@UntimelyRippd and the next-step increasing of rents these capitalists are doing is a massive housing build; increasing population density along public transit corridors and other strategic areas, as determined by local governments. We need to put a stop to the housing/condo runaway appreciations to tamp down housing costs. In Mpls/StP and elsewhere housing appreciation is too much for first time home buyers. This kind of appreciation wasn't going on in the 1960s - 1980s when I was growing up. It's not healthy for our economy. It's not productive. There's just so much that could be done with modest funding (relative to our war budget). And with more homeowners we get a more stable society.

This kind of redevelopment has been done before; 1920s, 1930s, 1950s, etc!

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more Katie Porter and AOC types. Smart, to the point, no nonsense, hold their feet to the fire reps.

First time I've heard of KP -- apparently she reps part of Orange County, formerly all GOP. Doubly good.

My other takeaway is that this isn't such a great argument for concentrating too much on raising the minimum wage to a supposed "living wage" as the wages cited left that hypothetical person still in the red. But it might be a good argument for Andrew Yang's Freedom Dividend -- everyone over 18 gets $1,000/mo. Would take care of much of the high rent issue too.

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Centaurea's picture

@wokkamile doesn't go far nowadays.

It would also give the rentier class a further excuse to increase what they charge us.

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9 users have voted.

"Don't go back to sleep ... Don't go back to sleep ... Don't go back to sleep."
~Rumi

"If you want revolution, be it."
~Caitlin Johnstone

@Centaurea
goods will be either:
A. Provided by the government, sociamalistically
or
B. Fundamentally abundant in the market
any attempts to solve the most basic problems of poverty by tossing money at individuals will fail, exactly because whoever is the fat and happy rentier for essentials will jack the rent through the roof.
People must have:
A. Housing
B. Health care
C. Education
D. Food
E. Transportation
F. Energy
G. Telecommunications
B, C, F and G are no-brainers -- they are best provided by government monopolies, and next by fiercely regulated private providers. Anything resembling a "free" market in those will ensure that people get the very least of those goods possible, at the very highest price -- and that many people will simply do without.
A, D, and E are more complicated to think about. The biggest worry, especially for food, is over-concentration of the supply-side, as with ADM's dominance in the grain markets.

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7 users have voted.

The earth is a multibillion-year-old sphere.
The Nazis killed millions of Jews.
On 9/11/01, a Boeing 757 (AA Flight 77) flew into the Pentagon.
If you can't accept these indisputable facts, I can't fake an interest in your opinions about anything else.

lotlizard's picture

@UntimelyRippd  
“Hey, that sounds familiar — didn’t we have a system like that? So why was it so all-fired important after reunification for everything that wasn’t dismantled outright to be sold off to private investors from far away? Why was everyone of power, wealth, and influence you sent over here telling us, no, we couldn’t rejoin the wider world unless we gave up security in the collective and took on individual risk and responsibility, and went along with all that? Hmm?”

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@lotlizard

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2 users have voted.

The earth is a multibillion-year-old sphere.
The Nazis killed millions of Jews.
On 9/11/01, a Boeing 757 (AA Flight 77) flew into the Pentagon.
If you can't accept these indisputable facts, I can't fake an interest in your opinions about anything else.

lotlizard's picture

@UntimelyRippd  
A lot of them are sick and tired of being pushed around psychologically manipulated “nudged” this way and that by supranational moneyed elites who live like the aristocracy of earlier times and who think they know better and are better than people with fewer inherited socioeconomic advantages but with actual deep roots in hometown and region.

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Unabashed Liberal's picture

not long ago. It's one of the few hearings that they've covered, lately, that was actually worth listening to (on XM Radio).

I'd heard her name, but, didn't know anything about Porter, other than she was a Congressional Freshman.

Thanks for sharing, DK.

Mollie

I think dogs are the most amazing creatures; they give unconditional love. For me they are the role model for being alive.
~~Gilda Radner, Comedienne

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"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw, Irish Dramatist & Socialist
"We [corporations] are the government!" Actor John Colicos (1978)

Rent collecting is NOT productive, no matter whom the owner is.

I know of roughly 3 ways to bring down housing prices:
1. severely limit immigration.
2. outlaw foreign ownership of real estate
3. rent controls. The last seems most fair and effective to me, though I think #2 deserves some consideration as well.

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Nastarana

The Liberal Moonbat's picture

Why do these economic breakdown videos always seem to have that same kind of funny New York jazz background music?

Anyways, nice to see someone like Katie Porter in Congress - we shall be watching her career with great interest.

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2 users have voted.

“Remember, when the emperor looks naked, the emperor IS naked. The truth and the lie are *not* 'sort of the same thing'.” — Daria Morgendorffer

@The Liberal Moonbat and let us hope that she remains relatively unknown and does not attract a Right Wing feeding frenzy, a la WArren. A book came out in the 60s, long forgotten, titled Up the Organization about business. In one chapter, the author says suppose you discover a way to eliminate pollution. If you want to be successful, what you need to do is quietly go about eliminating pollution state by state. If you instead hold a big splashy press conference about your wonderful new discovery, everyone who has an interest in keeping pollution just the way it is is put on notion that they better get cracking.

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Nastarana

@Nastarana
She's originally from Iowa, but was nonetheless educated at Phillips Andover, then Yale, then Harvard Law (magna cum laude). She's a law prof in California. For reasons I know not, Kamala Harris plucked her out of obscurity and put in charge of the distribution of California's multi-billion dollar share of the mortgage-fraud settlement against the big banks.

No idea what she thinks of Harris, but as regards the rich, one gets the impression that a lifetime of exposure to the wealthiest of the wealthy hasn't given Porter a particularly sympathetic disposition towards their "plight".

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2 users have voted.

The earth is a multibillion-year-old sphere.
The Nazis killed millions of Jews.
On 9/11/01, a Boeing 757 (AA Flight 77) flew into the Pentagon.
If you can't accept these indisputable facts, I can't fake an interest in your opinions about anything else.

lotlizard's picture

@Nastarana  
Instead of mounting a frontal PR assault on global warming, they’re marketing “hyperlocal weather forecasting” to other big corporations and institutions.

I could see IBM just quietly feeding the results of state-of-the-art climate modeling to each individual organization, getting them to wake up one by one, as their people say in internal discussions, “Have you seen this? Unless something big happens to change the equation, this data from IBM shows that we specifically are really going to be in big weather trouble in the future.”

The 1970 book Up the Organization was authored by Robert C. Townsend. Apparently there is a revised 2007 edition. There was also a 1988 sequel called Further Up the Organization.

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@lotlizard correction and update. One of the things I remember best from that book is the successful manager of a local franchise saying ignore every directive from the head office.

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Nastarana

The Liberal Moonbat's picture

@Nastarana Back in the strange old days when Catholics were perceived as an exciting, exotic new market, Ray Kroc wanted to add something to the menu they could eat on Fridays, and what he insisted on was the "HulaBurger", which was just a big hunk of grilled pineapple in a bun (and maybe cheese) - not that I don't see the attraction, but it's not exactly the most logical single step away from a hamburger. It took one regional franchise manager to say "well, duh" and go with the Filet-O-Fish instead.

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“Remember, when the emperor looks naked, the emperor IS naked. The truth and the lie are *not* 'sort of the same thing'.” — Daria Morgendorffer

dkmich's picture

@The Liberal Moonbat

I couldn't find a non-fb link for it. When I went looking for it, that is when I found that all the msm outlets had cut the clip to delete every scene with the white board. So I just keep looking, without listening, for a clip that didn't delete the white board. Sorry about the music.

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"Religion is what keeps the poor from murdering the rich."--Napoleon

*donate to c99 *like us on Facebook *follow us on Twitter

The Liberal Moonbat's picture

@dkmich *shrug*

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“Remember, when the emperor looks naked, the emperor IS naked. The truth and the lie are *not* 'sort of the same thing'.” — Daria Morgendorffer

shaharazade's picture

I'll have to think about that? Hey don't get sanctimonious folks. Jamie is after all a really savvy businessman. Thing is while I really like what Katie is saying to this sociopath what does this do other then provide a Kabuki show for the political punters? Our Democratic city, and state government talks a lot about affordable living yet has made rent control in Oregon illegal. So Katie and all Congress people how about actually legislating some real regulation and reining these 'savvy bussnessmen'.Maybe bust some trust or prosecute reinstate the rule of law and stop enabling the obscenely rich sociopathic crooks who now rule the world with no checks on their unfettered power. Good show, however.

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@shaharazade
My guess is that Dimon kicked a few stray dogs after that hearing, literally or figuratively. These people have egos for real, and she made him look like a witless fool.

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5 users have voted.

The earth is a multibillion-year-old sphere.
The Nazis killed millions of Jews.
On 9/11/01, a Boeing 757 (AA Flight 77) flew into the Pentagon.
If you can't accept these indisputable facts, I can't fake an interest in your opinions about anything else.

@shaharazade How did that happen? Might you want to do a modest essay on the hows and whens?

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Nastarana