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Cirilli reports: "JPMorgan Chase CEO Jamie Dimon made calls to lawmakers on Thursday urging them to support the 'cromnibus' spending bill, House Financial Services Committee ranking member Maxine Waters (D-Calif.) told reporters."

(photo: file)
(photo: file)

ALSO SEE: Bernie Sanders Vows to Oppose $1.1 Trillion Spending Bill if Wall Street Rider Is Included

JPMorgan CEO Helped Whip Votes for Budget Bill That Includes Deregulation for Wall Street

By Kevin Cirilli, The Hill

12 December 14


PMorgan Chase CEO Jamie Dimon made calls to lawmakers on Thursday urging them to support the “cromnibus” spending bill, House Financial Services Committee ranking member Maxine Waters (D-Calif.) told reporters.

Dimon's involvement came amidst progressives enraged that the House "cromnibus" included a provision that they said would weaken Wall Street regulations.

"I think we got hurt when Jamie Dimon and the president started to whip," Waters told reporters after the vote. "That's when I think we lost some votes."

The Washington Post first reported news of Dimon's involvement in the negotiations.

The House voted to approve a $1.1 trillion bill funding most of the government through September on a 219-206 vote. Fifty-seven Democrats voted for the bill, while 139 Democrats -- including Waters -- opposed it.

Waters and progressives opposed the budget due to changes to the 2010 Dodd-Frank Wall Street Reform Law that were supported by Dimon and other big banks.

"What does it say? It just seems very odd," Waters said. "It is just very strange that the two of them would be working for the support of this bill."

When asked if she thought that Obama had sold out to Wall Street, Waters replied: "That's not for me to determine. I know that the president was whipping. I know that Jamie Dimon was whipping and calling directly into members' offices. And that's odd. That's an odd combination."

Waters said that she "disappointed" in House Democrats for being influenced by Dimon.

The California Democrat -- who rarely criticizes Obama -- praised Sen. Elizabeth Warren (D-Mass.) for helping to rally support against the cromnibus.

"Elizabeth was very strong, very strong. Not only did she do a press conference and speak on the floor, she was interacting with a lot of the outside groups. She was very strong on this," Waters said. "I just want our Democrats to feel strong enough to fight and not to cave in, not to be influenced or intimidated." your social media marketing partner


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+20 # Gootarama 2014-12-12 10:58
"Hello Congressman this is Jamie, you know how to vote on this budget bill, don't you?? Good........... the check's in the mail"
+19 # riverhouse 2014-12-12 11:03
Of course, JP Morgan did. So did Citibank and all the other rapacious banking lords. Thanks to the Supreme Court and thanks to the tea baggers we now have a Congress run amuck in dirty money from multinationals who pay little or no taxes to the government but run the government and the courts in America.
+18 # Henry 2014-12-12 11:40
"It just seems very odd," Waters said.

Democrats, we have to RAMP UP our language here!!! "Odd" doesn't really do it.
+1 # cymricmorty 2014-12-14 15:00
@Henry is right. Lots of mincing words going on here, there and everywhere. "Odd"? "Enhanced interrogation techniques"? Oh, come on. Newt Gingrich ("language is a key mechanism of control") must be very proud.
+11 # harleysch 2014-12-12 13:03
The real story here is that President Obama, once again, defended Wall Street on this vote, joining with Jamie Dimon and John Boehner to "whip" the Democrats in line.

If he prevails in the Senate, the American people will be responsible for bailing out Wall Street when the next derivatives bubble pops -- courtesy of the alliance between Obama and John Boehner.

Once again, Obama has shown his true commitment, and it's not to the people, not to the Democratic Party constituents.
+5 # propsguy 2014-12-12 15:00
come on ms waters- just say it! obama sold out to wall st before he ever took office

come on ms waters- just say it! obama sold out to wall st before he ever took office
+5 # Bruce Gruber 2014-12-13 09:44
We are struggling at the brink of revolution as envisioned by Thomas Jefferson. The two party system has been corrupted by the plutocratic resources of financial and systematic militarized protection of the STUFF we increasingly pay for, resent and fear... THEIR STUFF. The middle class disappears into credit defense, fear of pension loss and unemployment while the poor around the world watch aghast at the exposure of American Exceptionalism as simple greed and corrupt self interest. "We, the People" are being ravaged and exploited by divisions of race and class and education and ownership and influence and money and power and a militarized "protection" racket ironically called "justice".

2016 may be the last gasp of hope for peacefully and democratically exercised right of franchise. The progressive humanist dreams of a better world and 'equitability' for mankind are NOT idealistic pipe dreams. They are the essence of our evolution from competitive, conquest-orient ed, reptilian self-interest to civilized understanding of our species' skill and ability to flourish and interact with our environment rather than exploit and extract everything of value until all that remains is a balance sheet that shows all the chips one one side of a table. Warren, Sanders, Brown, Grayson, Dean and others see this. So can WE! TAKE A STAND. Stand up for ideals - not compromise!
+3 # crispy 2014-12-14 12:54
Obama staffed his administration with bankers so... no surprise here for me at least
+2 # crispy 2014-12-14 12:55
impeach him for not prosecuting torturers and then we'll see
+3 # thekidde 2014-12-14 13:59
Damn. When will his majesty King Jamie, be introduced to either tar and feathers or the guillotine???

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