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Kennedy Questions Dimon, Fraser on FDIC Scandals, Bank Failures in Banking 12 06 23
On December 6, 2023, Senator John Kennedy of Louisiana raised serious concerns about the recent scandals and bank failures within the banking industry. During a hearing with top executives of JPMorgan Chase and Citigroup, Kennedy did not hold back in his questioning about the role of the Federal Deposit Insurance Corporation (FDIC) in these troubling events.
Kennedy first directed his questions towards Jamie Dimon, the CEO of JPMorgan Chase, one of the largest and most influential banks in the United States. The senator grilled Dimon on the bank’s involvement in several high-profile scandals, including allegations of money laundering and fraudulent activities. Kennedy demanded answers on what steps JPMorgan Chase was taking to rectify these issues and prevent them from happening in the future.
Dimon, for his part, assured the senator that the bank was fully cooperating with regulatory authorities and conducting thorough internal investigations to address any misconduct. He stressed that JPMorgan Chase was committed to upholding the highest ethical standards and holding individuals accountable for any wrongdoing.
Kennedy then turned his attention to Jane Fraser, the CEO of Citigroup, another major player in the banking industry. The senator delved into the recent bank failures that had occurred under Citigroup’s watch, leading to significant financial losses for both customers and shareholders. Kennedy pressed Fraser on the adequacy of Citigroup’s risk management practices and the potential lapses that had contributed to these failures.
Fraser acknowledged the seriousness of the bank failures and expressed remorse for the impact they had on Citigroup’s stakeholders. She emphasized that the bank was taking decisive measures to bolster its risk controls and mitigate the chances of similar incidents in the future. Fraser underscored Citigroup’s unwavering commitment to restoring trust and confidence in its operations.
Throughout the hearing, Kennedy underscored the pivotal role of the FDIC in overseeing the safety and soundness of the banking system. He underscored the need for greater transparency and accountability within the agency to prevent any further scandals and bank failures from occurring. Kennedy vowed to work with his fellow lawmakers to enact legislative reforms and strengthen regulatory oversight to restore trust in the banking industry.
The tense exchange between Kennedy, Dimon, and Fraser shed light on the pressing issues facing the banking sector, from allegations of financial misconduct to systemic risk management failures. The senator’s pointed questions underscored the imperative for robust regulatory safeguards to uphold the integrity and stability of the financial system.
As the banking industry grapples with the fallout from scandals and failures, all eyes are on the FDIC to fulfill its mandate of safeguarding the public’s confidence in the nation’s banks. It remains to be seen what concrete actions will be taken by both the regulatory authorities and the banks themselves to address these critical challenges and prevent their recurrence in the future.
I don't trust Bankers or Biden or Dumb o crats.
Crickets
WHY
Is America listening to so called Politicians with high & mighty Ambition wishing to be First Citizen I.e PRESIDENT of the COLONIES.
When You/They have a Man like Senator John Kennedy who ACTUALLY gets How,Why,When,Where their Country wishes to GO.
I mean this Man ain't like what is been offered up to the American People.
He ain't STUPID,
All I can do is ADVICE as we say over here, I can walk you Safely across the Highway but once I got You their, i can't stop YOU from Running back
against the Traffic.
With YA KENNEDY
Donal O'Brien
Ireland
Keep fighting the good fight Sen Kennedy
Crickets.
Kennedy is so weak on the subject. So weak.
Thank you…
lol what a bunch of amoral crooks…………
I am at a loss as to why there is so much praise for Senator Kennedy in the comments.
Why?
It cannot be doubted that Senator Kennedy knows full well why Mr. Dimon and J.P. Morgan Chase are receiving policy directives from Basel, Switzerland, without any input from the U.S. Senate, the U.S. Federal Government as a whole.
After all, J.P. Morgan Chase is a "shareholder" of that entity in Basel, Switzerland to which Senator Kennedy is referring.
The U.S. Federal Reserve is a. "shareholder" in that same Basel, Switzerland based entity.
And J.P. Morgan Chase is a "shareholder" of controlling interest in the U.S. Federal Reserve.
I wonder how many, among all the American people, know even one iota of any-thing about that entity in Basel, Switzerland?
Surely Senator Kennedy knows of it's secretive hostory, past and present machinations, and it's international status as a "sovereign" organization, writing it's own laws and having "sovereign immunity" in all it's dealings across the world.
I ask Senator Kennedy, by giving assent and praise to Mr. Dimon, aren't you giving assent to every globalist agenda attempting to be thrust upon the people of the United States of America and all peoples in all countries across the World by that entity in Basel, Switzerland, which for some reason you did not call out by name?
If you are giving assent to the agendas being thrust upon the world by that entity, the Bank for International Settlements, Headquartered in Basel, Switzerland, are you also giving assent to all the agendas attempting to be thrust upon the people of the United States of America by organizations such as the United Nations, the World Health Organization, the World Economic Forum, to name only a few? After all, Senator Kennedy, isn't it true that all of the aforementioned organizations are indeed incestously and inextricably intertwined, and others with them?
If, by giving assent and praise to Mr. Dimon and the Bank he heads, are you giving assent and approval of the fiat currency system, a currency system based on no-thing, a system that in May of 1972 Mr. John Exter rightly declared a system of. "I O U NOTHINGS?"
Mr. Dimon is 110% on board with Agustin Carstens', Managing Director of the Bank for International Settlements, agenda to forcibly implement Central Bank Digital Currency in all nations across the World, including here in these United States of America. By goving assent and praise to Mr. Dimon, are you giving assent to the agenda to implement a Central Bank Digital Currency here in the U.S.?
Please tell me, Senator Kennedy, where in our Constitution are such usurpations granted? To the best of my understanding of our Constitution, there are no such provisions. Nor will any branch of our Federal Government find any authority to supercede our Constitution, especially forfeiting our liberty to any international organizations, particularly those aforementioned and several others I have not yet mentioned.
What say you, Senator Kennedy, of those concerns I have raised?
My concern began to grow when I heard you speak on the Senate floor of the neep to implement "Stop & Frisk." Those words of yours were spoken some months ago. I do not recall if your intent was to encourage the implementation of "Stop & Frisk" in your home State of Louisiana or if you're intent was to bring about "Stop & Frisk" on a National level. Either way, my concern is that airing such desire at the Federal level, on the Senate floor. Even if only to be.implemented in your home State of Louisiana alone and with the assistance of some Federal Law Enforcement personnel, it is cause for grave concern. Unfortunately, at that time you did not clarify any specific details of your intent. If your "Stop & Frisk" policy were implemented in Louisiana with the assistance of Federal Law Enforcement is it too much to ask how much time would pass before a National Law Enforcement is created in order to implement "Stop & Frisk" in every State and Municipality?
Such an act from the Federal level would indeed turn our Constitutional guarantees on it's head. It would result in exactly what our Founders and Framers warned of.
My concern, Senator Kennedy, is that the United States of America accounts for slightly more than 4% of the World's population total human population yet we have, by far (perhaps even by multiples), a Federal Government apparatus that surpasses any in all present and previous history. And it continues to grow unabated. As for me, i know of not one single Congressman or Senator tirelessly working to slow this runaway train down.
Not to mention the associated runaway National debt, already passed $34 Trillion, which will most assuredly never be able to be fully repaid.
Returning to Mr. Dimon, it is within the past 24 to 48 hours that he publicly declared the American public is at fault for the excessive (and growing) inflation. Such a declaration is an obfuscation of fact.
Mr. Felix Somary, The Raven of Zurich : "The state alone is responsible for inflation ; inflation without government, or indeed against government, is impossible."
And, closer to home, Mr. Henry Ford opined something to this affect : If the American public were to ever learn how the banking and monetary system really works, most assuredly they would rise up with pitchforks in hand and flood the streets.
Personally, I pray the whole of the American public does learn how our banking and monetary system really works, and I also pray they set about peaceably demanding the return of sound money, as set forth in our Constitution (i.e. Gold and Silver) abandoning the worthless fiat paper currency trash, without resorting to the use of pitchforks (or any other tools of persuasion).
God Bless John Kennedy! The most intelligent and honorable member of the Senate.
useing my body. treasury and gov got paid. lfd….
SO GREAT WERE BROKE. AND UVE JUST DUSCOVERED. ALL TO LATE NOW. DONT USE MY KIDS WUTH UR DOD FRANK BAIKEY ANYMORE
Asking DIMON I S OK D IS WHAT WORKS YOUR PROSESS NOT THAT POWERED ONLY CHECK OF USING PLACE AND YR LOOK WHAT LIKE ANIMALS MEAT BASTAD COME BACK BECAUSE GOAHEAD MAHAKAAL GDFTR MTR WHO WHERE WHENE WHY WHOM ANSWER BOUND BECAUSE Y USE WORD I ASK MEANS WHO ARE Y WHAT YR WORK S
By the way, I do appreciate you valid question to find ethical and transparent meaning in bills of the land
let’s talk about how inheritance tax should be illegal since the government gets to tax (heavily), the income and family property twice…preventing the middle and lower classes from obtaining generational wealth while the top 10% can afford to avoid tax with smart Laywer wrapping up generational wealth in trusts
Could we question civil forfeiture and how it should be illegal to force people to prove the innocence of are own money buy while having to hire an attorney to cover fees when it should be the government’s job to prove guilt upon a reasonable doubt in court in order to take or keep are money
Wray is a lying crook
Congress has successfully turned their SWORN DUTY and JOB into a reality show where committees take the place of working amongst THEMSELVES to SECURE OUR BORDER AND BALANCE THE BUDGET!! They are ALL LOSERS , including Aw Shucks John!