SOMERVILLE, MA – U.S. Senate candidate and consumer advocate Elizabeth Warren issued the following statement following JP Morgan CEO Jamie Dimon's testimony before the Senate Banking Committee:
"If there is one thing we learned at today's hearing, it's that Wall Street still doesn't get it. Jamie Dimon and his defenders have spent millions lobbying for delays, loopholes and exceptions to block any real accountability on Wall Street--and they're still at it.
"It's time to end business-as-usual, both on Wall Street and in Washington. Jamie Dimon can start by stepping down from his position on the Board of Directors at the New York Fed, and Congress should implement strong, clear rules to make sure the big banks can't wreck our economy again. Banking should be boring again, with ordinary banking separated from high-risk gambling.
"The giant banks that nearly broke our economy have cost millions of people their jobs, their homes, and their retirement savings, but those banks still haven't been held accountable.
"Wall Street and their allies in Washington must stop fighting for loopholes and exceptions to real reform and start working for the people who get hurt when they load up on risk."