JPMorgan Chase CEO Jamie Dimon couldn’t help but burst into laughter after Republican Louisiana Sen. John Kennedy cracked a joke about Alec Baldwin during a hearing on banks.
Kennedy first pointed out while three banks failed this year, the Federal Deposit Insurance Corporation (FDIC) missed key warning signs because those in charge “were too busy urinating off the top of a hotel or abusing young women who went to work for the FDIC.”
Kennedy then turned his attention toward FDIC rules created in Basel, Switzerland.
“Mr. Dimon, don’t you find it ironic? The FDIC is now turning to you and saying, ‘You know our track record, which is blemished at the FDIC, your bank isn’t broken but we’re going to tell you how to fix it.’ Do you find that ironic? They’re going to tell you how to fix it based on standards put together by bureaucrats in Basel, Switzerland, not by…
