John McCain

Did you happen to notice today that al Qaeda in Iraq and al Qaeda in Syria have announced their joint partnership?

Do you think they will, since the people, and Africa Command, have no logistics capability whatsoever?

I think Iraq is more stable today than many thought several years ago.

You ought to go to a refugee camp some time, both of you, and meet the people there, and the woman who says: 'See all these children; they will take revenge on those who failed to help them, who failed to help.'

Having just returned from Libya, I can assure you that the Libyan Government finds nothing but frustration in dealing with this administration.

Is al Qaeda gaining traction and significant influence in Syria?

It is hard for me to accept that serious responsibility was assumed by the top management of JPMorgan.

Besides this Subcommittee's investigation, what are JPMorgan's ongoing legal and financial exposures, including penalties already paid by the Firm stemming from the whale trades?

You said on the April 13 call that the Firm was 'very comfortable' with the positions in the SCP. As Mr. Cavanagh pointed out, that statement was wrong, of course.

By regulation, regular reports are required to go to the OCC. Is that correct?

Besides the traders who mismarked the book, who should be held accountable or has anyone been held accountable aside from the traders for breaching JPMorgan's own internal risk limits and adjusting the risk models?

So we have reduced compensation. For example, your compensation was reduced?

I would say, Senator, we endeavored to be fully transparent with the regulators, and I would certainly have supported that transparency.

Well, with normal citizens, normal enterprises, if by regulation you are required to do something, and you do not want to do it, then you seek avenues to avoid it.

And yet Mr. Dimon then made the decision for 2 weeks at a very critical time not to send reports to the OCC. Is that correct?

I have no further questions.

Well, let me tell you what is hard to explain to my constituents when their tax dollars are insuring their deposits.

Mr. Weiland, you indicated in an interview with the Subcommittee that it was not your job to enforce the risk limits, even though you were the senior risk officer at the SCP.

The task of Federal regulators, and of this Congress, is to take away the matches.

Well, when you are 'held accountable,' what penalty is there that is imposed when you are held accountable at JPMorgan?

It seems to me it is remarkable that if you are required to make reports or have been, even, making reports regularly to regulators on a routine basis, the timing is very interesting of this, just decides not to give a report.

Do we live in a world, Mr. Braunstein, that government regulations of our business and our lives, we just decide, well, we are not--because we are concerned about something, we are not going to comply with regulations?

Do you believe that JPMorgan is too big to fail?

Ms. Drew, in January 2012, the CIO's chief financial officer, Mr. Wilmot, assured the OCC that you planned on reducing the portfolio's risk-weighted assets from $70 billion to $40 billion, yet it tripled in size instead.

JPMorgan is just so big that you really do not know who would have a very serious responsibility to make required reports to the OCC.