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guillaumeb

(42,641 posts)
Fri Apr 12, 2019, 06:53 PM Apr 2019

Rep. Katie Porter Uses Basic Budget Math to Expose Jamie Dimon on Starvation Wages at JPMorgan

From the article:

During a House Financial Services Committee hearing on Wednesday, Rep. Katie Porter used the financial struggles of one of her constituents to grill JPMorgan Chase CEO Jamie Dimon over the vast worker-executive pay gap and low wages at his bank.

Porter, a Democrat from California, outlined the monthly expenses of her constituent, a single-mother working full-time as a JPMorgan Chase teller for $16.50 an hour.

After paying for rent on her one-bedroom apartment, food, utilities, child care for her daughter, and other basic needs, Porter estimated that her constituent has a $567 budget shortfall each month.

When Porter asked Dimon—who earns $31 million a year—how his employee should manage this shortfall while working 40 hours a week at his bank, the Wall Street CEO had no answer.


To read more:

https://www.commondreams.org/news/2019/04/11/watch-rep-katie-porter-uses-basic-budget-math-expose-jamie-dimon-starvation-wages?cd-

One of the thieves who wrecked the US economy is still treated as a legitimate actor on the economic and political stage.

Amazing how the GOP, and the media that serves them, can so quickly erase actual recent history.
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Rep. Katie Porter Uses Basic Budget Math to Expose Jamie Dimon on Starvation Wages at JPMorgan (Original Post) guillaumeb Apr 2019 OP
Truly perfect. She used PURE LOGIC and math. More of this from ALL Dems and blm Apr 2019 #1
Agreed. guillaumeb Apr 2019 #2
I find her refreshing malaise Apr 2019 #3
And she easily exposes what the GOP really stands for. guillaumeb Apr 2019 #4
Liz Warren was her mentor malaise Apr 2019 #8
Ahhh...the power of math strikes again!! Rep. Porter's logic using math can't be denied!! ... SWBTATTReg Apr 2019 #5
And an experienced liar like Jamie Demon had nothing to say in response. guillaumeb Apr 2019 #6
I know. I've listened to dimon before, and for him to be speechless is truly something! Take ... SWBTATTReg Apr 2019 #7
Rep. Porter is brilliant and a pleasure to watch in action. Totally Tunsie Apr 2019 #9
Agreed. guillaumeb Apr 2019 #10
Didn't even account for state/local taxes and soc security elias7 Apr 2019 #11
And it does not account for medical expenses, guillaumeb Apr 2019 #12

guillaumeb

(42,641 posts)
2. Agreed.
Fri Apr 12, 2019, 06:58 PM
Apr 2019

They need to be confronted, exposed, and publicly identified as the thieves and liars they are.

SWBTATTReg

(21,856 posts)
5. Ahhh...the power of math strikes again!! Rep. Porter's logic using math can't be denied!! ...
Fri Apr 12, 2019, 07:04 PM
Apr 2019

Excellent!

guillaumeb

(42,641 posts)
6. And an experienced liar like Jamie Demon had nothing to say in response.
Fri Apr 12, 2019, 07:05 PM
Apr 2019

And the misspelling of Dimon's name was deliberate.

SWBTATTReg

(21,856 posts)
7. I know. I've listened to dimon before, and for him to be speechless is truly something! Take ...
Fri Apr 12, 2019, 07:07 PM
Apr 2019

care!

Totally Tunsie

(10,885 posts)
9. Rep. Porter is brilliant and a pleasure to watch in action.
Fri Apr 12, 2019, 07:13 PM
Apr 2019

I love how she takes it all back to the basics and makes her questioning so logical. Her interrogation of Kathy Kraninger, the director of the Consumer Financial Protection Bureau, where she asked KK to define “APR” (annual percentage rate) was so deliberately pointed and revealing...right to the heart of the matter. And then she held up her own book on that very subject...

I look forward to seeing a lot of her in future proceedings.

guillaumeb

(42,641 posts)
10. Agreed.
Fri Apr 12, 2019, 07:19 PM
Apr 2019

It is always better to simplify issues so that language cannot be used to obscure what is actually happening.

I remember debating with a local conservative about the term quantitative easing, and how it was used to describe what in plain language was the Federal Reserve buying up toxic assets from failing banks.

Welfare for the banks.

elias7

(3,976 posts)
11. Didn't even account for state/local taxes and soc security
Fri Apr 12, 2019, 07:43 PM
Apr 2019

which would bring realized income closer to $13.25/hr

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