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Thu Sep 22, 2022, 12:49 AM

Wall Street CEOs Grilled on China, Russia Ties by US Lawmakers

Source: Bloomberg

Citigroup Inc.’s Jane Fraser was forced to answer if her bank would pull business from China if its military invaded Taiwan. Jamie Dimon was pressed on whether JPMorgan Chase & Co. would cut ties with Russian firms.

Lawmakers seized on recent political tensions and hot-button social issues in a hearing with the chief executive officers of America’s largest retail banks on Wednesday. Representatives on the House Financial Services Committee probed them on everything from the escalation of the Ukraine conflict and racial equity to fossil-fuel financing and their role in slavery.

“Of course there are concerns, there are disagreements, but that’s how democracy works,” Maxine Waters, the California Democrat who chairs the committee, said during the 6 1/2-hour hearing. “We have a lot of work that we must continue as we interact with each other to do the people’s business.”

The breadth of questions served as a reminder of the expansive reach of megabanks, as Waters called them. They also come as the US economy faces a precarious position, with inflation running at decade highs raising the specter of recession. The chief executives were forced to discuss their firms’ approach to helping consumers deal with soaring prices and rising US recession risks.

Read more: https://www.bloomberg.com/news/articles/2022-09-21/wall-street-ceos-grilled-on-china-russia-ties-by-us-lawmakers

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Reply Wall Street CEOs Grilled on China, Russia Ties by US Lawmakers (Original post)
SouthBayDem Sep 22 OP
empedocles Sep 22 #1
former9thward Sep 23 #2

Response to SouthBayDem (Original post)

Thu Sep 22, 2022, 11:29 AM

1. Russian 'firms', russian crime syndicates, hmmm.

I remember, being at a business convention, and a younger John Malone spoke.
[Malone in news recently, in the background, in the neutering of CNN - CNN staffers not to use the term, 'Big Lie']

Anyway, Malone as a featured speaker, bluntly said back then, - We are businessmen. We do what we have to do, wherever, to do business.

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Response to SouthBayDem (Original post)

Fri Sep 23, 2022, 11:29 PM

2. What major U.S. company does NOT have ties to China?

All the tech companies do. Whatever people are using to post on this site has Chinese parts. Food products, manufacturing companies. clothing. Why are they picking on some bank?

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