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Katie Porter Stumps JPMorgan Chase's Jamie Dimon With Question About Employee's Income



JPMorgan Chase CEO Jamie Dimon may know about the financial industry, but he has a harder time understanding the money problems facing his own employees.

That was obvious on Wednesday during the billionaire banker's exchange with Rep. Katie Porter (D-Calif.) At a hearing with the House Financial Services Committee. The homeowner of seven top banks to discuss income in 10 years after the global financial crisis

Porter brought up one of her constituents in Irvine, a woman taking home $ 2,425 a month for her job at JPMorgan Chase and living with her daughter in a one bedroom apartment that costs $ 1

600 a month. The woman also spends $ 100 a month on utilities and more of her paycheck on food, commuting and child care, Porter said.

As a result, she has a $ 567 budget shortfall every month, according to the lawmaker.

"My question for you, Mr. Dimon, is how should she manage this budget shortfall while she's working full-time at your bank? ”Porter asked.

At first, Dimon questioned the accuracy of Porter's numbers and asked if the woman was working in a" starts "job.

After Porter confirmed she was, Dimon responded that she" may have my job one day. "

Porter's reply:" She may, but Mr. Dimon didn't have the right now to spend your $ 31 million. ”

Dimon didn't have a quick answer when Porter pressed him on how the woman should shop here budget shortfall.

"She's short $ 567. What do you suggest she do? ”Porter asked.

“ I don’t know. I would like to think about that, ”Dimon replied.

" Would you like to take out JPMorgan Chase credit card and run a deficit? "

I don't know. I had to think about that, ”he repeated.

“ Would you recommend that she be overcharged at your bank and be overcharged? ”

don't know. I'd have to think about it, ”Dimon said a third time, adding that he'd love to talk to the woman“ about her financial affairs and see if we could be helpful. ”

Porter later detailed the woman's salary and expenses on Twitter so that I could check the numbers.

You can watch the exchange below:


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