Congresswoman grills billionaire CEO over pay disparity at JP Morgan

Congresswoman grills billionaire CEO over pay disparity at JP Morgan


So where we left off
was this woman had – and I apologise, you’re going
to need to follow aurally – she had $2425 a month,
she rents a one bedroom apartment. She and her daughter sleep
together in the same room. In Irvine, California, that average
one bedroom apartment is going to be $1,600. She spends $100 on utilities,
take away the $1,700 and she has net $725. She’s like me, she drives a 2008
minivan and has gas – $400 for car expenses and gas –
net $325. The department of agriculture
says a low cost food budget, that is ramen noodles.
A low food budget is $400. That leaves her $77 in the red. She has a Cricket cell phone,
the cheapest cell phone she can get for $40.
She’s in the red $117 a month. She has after school childcare
because the bank is open during normal business hours.
That’s $450 a month. That takes her down to negative
$567 per month. My question for you, Mr Dimon,
is how should she manage this budget shortfall whilst she
is working full-time at your bank? – I don’t know that all your
numbers are accurate. – That number is a starter …
Is it generally a starter job? She is a starting employee.
She has a six-year-old child. This is her first job. – You can get those jobs
out of high school. – She may have my job
one day. She may but but, Mr Dimon,
she doesn’t have the ability right now to spend your $31m.
– I’m totally sympathetic. She’s short $567.
What would you suggest she do? – I don’t know. I’d have to think
about that. Would you recommend that she take
out a JP Morgan Chase credit card and run a deficit? – I don’t know and I’d have
to think about it. Would you recommend that
she overdraft at your bank and be charged overdraft fees? – I don’t know, I’d have to
think about it. So, I know you have a lot of … – I’d love to call her up and have
a conversation about her – financial affairs and see if we
can be helpful. See if you can find a way
for her to live on less than the minimum
that I have described? – Just be helpful. Well, I appreciate your desire
to be helpful but what I’d like you to do is provide a way
for families to make ends meet, so that little kids who are
six-years-old, living in a one bedroom apartment
with their mother, aren’t going hungry at night
because they’re $567 short from feeding themselves,
clothing – we allowed no money for clothing, we allowed no money
for school lunches, we allowed no money for field trips, no money
for medical, no money for prescription drugs. Nothing.
And she’s short $567 already. Mr Dimon, you know how to spend
$31m a year in salary and you can’t figure out how to
make up a $567 a month shortfall. This is a budget problem
you cannot solve.

47 Comments

  1. Argibon A says:

    JP Morgan needs to stop selling cocaine to employees. Oh wait whats this? JP Morgan ship busted carrying 1.3 Billion on Cocaine? He is thinking about it all right the scumbag.

  2. Batman DKN says:

    Drugs

  3. Matt Milewski says:

    Didn’t J.P. Morgan get caught for cocaine

  4. James A says:

    I’m a conservative and I like this woman and video and dislike that man ☺️

  5. Andrew James Osterhoudt says:

    Real Question: why hasn’t example woman fled California. Madame porters policies will put example woman out of work.

  6. deeznutzsuper8 says:

    So the CEO of a bank is responsible for saving single mothers now? OK

  7. Paulito Paultio says:

    If we did not spend money on illegal immigrants there would be a surplus of funding that would pay for every kids education in America and also end homelessness in America. That is from Reuters. So maybe she loud mouth congress member should explain to the person she mentioned why our funds are not helping her and going to people breaking into the nation illegally.

  8. Shakti Jhala says:

    Why is it his problem if the woman has a child when she can't afford it…if she feels short handed then quit… get a better job

  9. kevin a says:

    So a lady who works for the very institution that takes 6 G's out of this woman's pocket every year is grilling the guy who pays her a wage? How ridiculous

    I also fail to see how it's Dimon's fault that this hypothetical woman is a single mom… where's the father lol

  10. Jerome Richards says:

    YES YES YESSSSS🔥🔥🔥👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽

  11. The Traveler Wonderful world says:

    If you want to earn a better pay, get a specialized skill

  12. Pedro Podray says:

    Would love to punch him in the face so hard I brake my hand

  13. Wires & Numbers says:

    30K per year vs. 31 million per year…hmmm, no, I still can't see what's wrong with capitalism, it is absolutely unclear what may be wrong with this system, so…I'll think about it!

  14. mike neilly says:

    It's not the bank's job to to support these people who make bad choses in life.

  15. MOUNTAINMANJJ says:

    It is not his job to figure out how someone else is going to make ends meet, it is his job to pay the least to get the job done. The market, free market for now, decides what products, services, and labor will cost.

  16. I says:

    Rest of the developing world is surviving on $10k a year. And a $31k dollar in America seems less…how many more wars do you want to fight to satisfy your insatiable greed America?

  17. Khunta Khan says:

    WHY WOULD I PAY YOU MORE IS SOMEONE OR SOMETHING WILL DO IT FOR CHEAPER?

    THIS IS A BUSINESS. AMERICA FOLLOWS BUSINESS MODELS. EITHER HAVE SOMETHING MORE TO PROVIDE OR EXPECT TO GET CUT

  18. Joshua Johnson says:

    That's not his problem

  19. Frank Ramirez says:

    Put your child in foster care and don’t get pregnant in the future, if you can’t afford to have a kid keep your goddamn legs closed. It’s not up to me, Dimon, or anyone else to pay for it.

  20. Blair Douglass says:

    1600 a month…get a housemate with a 3 or 4 bedroom

  21. Sylph Moon says:

    If I was the banker, the first thing I would say is "Where's the Father?" Did the math figure in child support? welfare benefits she is probably getting? Make bad decisions in life, you generally have to pay for it.

  22. Savio Angelo Dias says:

    Lock up those CEO's

  23. Victoria Garcia says:

    So she gets $15.50 an hour? Can she get another job? I wish I knew her, I would help her get the hell out of that company.

  24. Sam Gebriel says:

    She has an option to quit and work for McDonald's

  25. gelgiz says:

    OMG! I love this woman, brilliant!

  26. Sean Sbragia says:

    Who can dislike this video?

  27. Matthew Bittenbender says:

    “I’ll have to think about it.” As the CEO of an entire bank it is his job to have already thought about that. No excuses!

  28. Skeet Wagensky says:

    Run Katie, RUN! KAGA (keep)

  29. James B says:

    Maybe the single mother should have "thought about it" before spreading her legs, and making a child she could not support.

  30. amirh1982 says:

    i am surprised no one is asking where her husband is?! You do no want to be in poverty don't have kids out of wedlock.

  31. Lacy Emmett says:

    Not all superheroes wear keaps

  32. Shaylin Monk says:

    So she is a single mother who’s fault is that. Also she is making $250 a year not to mention free healthcare for life and pension

  33. Laser Sharp says:

    I honestly don't get the point of this. If a woman decides to have a kid, live in one of the most expensive cities in the state, all while only having the skills for an entry level job, how is that someone else's fault?

  34. Savannah Rae says:

    That man just got his cheeks clapped

  35. Adam Johnson says:

    I had a similar deficit so I opened credit cards to cover the shortfall. While I was running up credit I then went back to school and took out loans to complete a bachelor's degree. I then went & got a much better job with said degree, which I was then able to use to pay off my credit cards with and now live comfortably. And no I don't have one child. I have 3.

  36. 7X HARDER says:

    WHOOAAA $400 is LOW for food? I spend like $150 a month maybe that's why I'm a skeleton HMMmm

  37. Lene Ring says:

    Dimon: greed

  38. Xanyo says:

    Liberals love to edit and cut clips… it's Jamie dimons fault that this woman became pregnant and has a hs job?

  39. David Kroell says:

    If she wanted to make more money after punching out a kid and getting an associate's job working at a bank: Maybe she should've buckled down a little more in high school. It's not the Exec's problem that she had a child when she could barely make ends meet. If he makes $31 mil/year, that's none of anyone's business other than his own! I was always taught that it was impolite to ask what someone else's salary was.

  40. ocsrc says:

    I am sure that Mr. Diamond has found that employee and killed her and her child.

  41. Max Betancourt says:

    I'm being the devil's advocate. But that's double the minimum wage at an entry level job at a bank. Most banks have a lot of benefits for childcare but I don't think the CEO is the problem. The rent is the problem. $1600 a month for an apartment? Now that's absurd.

  42. Raymond Flaherty says:

    Or maybe don't have kids if you can't afford it? Shocking I know

  43. Thomas Hynes says:

    One thing that Ms. Porter didn't say. She never blamed the government for taking away close to $6,000 out of this woman's paycheck, the fault all lies with the bank, not the politicians. IF this employee was not taxed, then the bank would only need to raise her pay about .05 cents per hour to make up the difference. So you see folks this is why even the liberals who scream $15 min. wage is the answer that it is NOT the answer.

  44. MrGorgeouslyme says:

    This woman is not JP MORGAN Chase problem. They did not force her to work

  45. MrGorgeouslyme says:

    Rep porter i guess has not created any business with the way she is questioning this guy. Just emotional questions. That is why i dont want women in positions of power. The are illogical

  46. Mack Maloney says:

    As soon as he walked out of the room, he stopped thinking about it

  47. Janie Drummer says:

    Why doesn't this Congress women share her 200,000 a year she gets from us tax payers

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