California Democratic congresswoman Katie Porter spelled out to JP Morgan’s CEO, Jamie Dimon, the real-world implications of the low wages his bank pays its junior employees at a senate hearing on Wednesday. After running Dimon through the numbers, Porter found that a single mother on the bank’s starting salary for a teller would be $567 in the red at the end of each month. Asked how a woman in that situation could get by, Dimon said, ‘I don’t know’
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Congresswoman Katie Porter has once again shown her dedication to holding powerful figures accountable, this time grilling billionaire CEO Jamie Dimon over pay disparity at JP Morgan. The hearing, which took place on April 10th, saw Porter questioning Dimon about the stark contrast in pay between the company’s CEO and its average worker.
Porter wasted no time in cutting to the chase, asking Dimon to provide a straightforward answer about the pay ratio at JP Morgan. Despite initially attempting to dodge the question, Dimon eventually revealed that the pay ratio stands at a staggering 381-to-1. This revelation drew sharp criticism from Porter, who argued that such a disparity demonstrates a lack of fairness and equity within the company.
Porter’s relentless questioning didn’t stop there. She also challenged Dimon on the issue of living wages, highlighting the fact that many JP Morgan employees struggle to make ends meet on their current salaries. By doing so, she put a spotlight on the broader issue of income inequality and the challenges faced by low-wage workers in the United States.
This isn’t the first time that Porter has made waves through her tough line of questioning. The Congresswoman has gained a reputation for her no-nonsense approach to holding corporate and political leaders accountable. Just last year, she made headlines for grilling former CEO of Equifax, Mark Begor, over the company’s handling of a massive data breach that compromised the personal information of millions of Americans.
Porter’s unwavering commitment to standing up for the rights of everyday Americans has earned her widespread praise and admiration. Her fearless approach to confronting powerful figures in the corporate world serves as a stark reminder that the voices of ordinary workers deserve to be heard and respected.
The exchange between Porter and Dimon at the hearing has reignited conversations about the need for greater transparency and fairness in corporate America. It has also sparked discussions about the role of lawmakers in addressing income inequality and creating a more equitable society.
As the conversation around pay disparity and income inequality continues to gain momentum, it’s clear that Congresswoman Katie Porter will remain a vocal and steadfast advocate for change. Her actions serve as a powerful reminder that holding those in power accountable is not only necessary but crucial in the fight for a fair and just society. With her fearless determination and uncompromising dedication to the truth, Porter is setting an example for leaders everywhere.
Under biden you have to have 2 jobs to make it
Biden gave us the highest gas and the highest inflation ever and the most corrupt president ever
That's not his job. I get by on about half that.
I LOVE YOU KATIE FROM CA voter
OMG! Katie Porter for President! NOW!!!
How about that 1600 dollars a month for a one bedroom? Im from middle Ohio it is just hard to make sense of the property valuations in other places. You used to have the low rent part of town and the high side… You live in the low rent side of town til you can afford to get a nicer place. It appears as though the low rent stuff went out the window almost everywhere really and wages don't keep up with the general cost of living. You could easily turn that around and say the cost of living outpace the wages and blame the owners of the land that you are buying from. Economics is complicated, but one thing is for certain, you look at a person like this Bank executive and they have one thing on their mind.. Shareholder value. That can come from anywhere as long as it isn't their own paycheck and that is the giant FU we feel in this country every day.
This right here made a future President, if we have a soul in America still
"I don't know I'd have to think about it"
She's asking you to think about it right now, my guy.
The single mother should have made better life decisions. Its not JP Morgan's fault.
Hate to sympathize with the rich guy, but this dumb employee is paying $1600 a month rent? Maybe she should move away from california
Thanks for standing up for people who are making less than minimum wage. Shame on jp Morgan.
If it were a man hed be homeless. So lets stop parading women, society already does that. Lets keep it real
She may have my job one day. Bro you may live in a movie but we dont