Click here to read the full article.
Congressional banking oversight is serious business, but not so serious that Sen. John Kennedy could not find a moment to slip in a hilarious quip.
The Louisiana Republican was questioning the CEO’s of the largest U.S. banks on Wednesday during the Senate Banking Committee’s annual oversight hearing, according to a report by the Daily Caller.
During his questioning, he asked the panel if they found it “ironic” that the Federal Deposit Inusrance Corporation was advising them on how to manage their banks with new proposed regulations despite the FDIC having watched three other banks fail this year under its regulatory oversight.
He then directed his question and joke directly to famed CEO of JP Morgan Chase, Jamie Dimon.
“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 are going to tell you how to fix it.’ Do you find that ironic?” Kennedy began
“They’re going to tell you how to fix it based on standards put together by bureaucrats in Basel, Switzerland, not by the United States Congress,” he continued.
“Do you find it ironic that they’re telling you this and proposing this? Isn’t that kind of like being given gun safety advice by Alec Baldwin?”
Continue reading here.
Scroll down for comments and share your thoughts!