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Archive for May 14th, 2012

The protest continue in Spain! Several protests against high unemployment and income inequality broke out in Spain last weekend. The police reportedly used force against peaceful protesters in the legendary square Puerta Del Sol.

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Massachusetts Senate candidate Elizabeth Warren (D) is calling for JP Morgan CEO Jamie Dimon to resign from his position at the New York Federal Reserve Bank to acknowledge that he was in a position of trust after his company revealed that it had recently lost $2 billion as a result of bad bets on derivatives.

“I’d like to see some real accountability here,” Warren told CBS host Charlie Rose on Monday. “I’d like to see Jamie Dimon, for example, resign from his position as a Class A director of the New York Federal Reserve Bank.”

During a Sunday interview on NBC, Dimon had explained he had been “dead wrong” to dismiss concerns about his company’s banking practices.

“In hindsight, we took far too much risk,” the CEO said. “The strategy we had was badly vetted. It was badly monitored. It should never have happened.”

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Senate Candidate Elizabeth Warren Demands Ouster of NY Federal Reserve

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