Best of StockTwits: Dimon: 1, Congress: 0June 13, 2012: 2:13 PM ET
JPMorgan Chase (JPM) was the top stock in the Dow Wednesday as investors cheered CEO Jamie Dimon's performance in front of the Senate. Then again, traders may not necessarily have been impressed by Dimon as much as they were disappointed by the lack of tough questioning from lawmakers.
Agreed. Dimon didn't clear up much and most of the Senators let him off the hook by not asking key questions. It would have been nice, for example, if someone tried to get Dimon to disclose just how big the trading/hedging loss might be right now. But here's a look at one exchange between Dimon and New Jersey Senator Robert Menendez that was worthwhile.
But for scathing comments about Congress and Dimon, one StockTwits user takes the cake with two fantastic tweets.
Ha! Congress clearly met its match here. As I predicted last Friday, Dimon was far more effective than other financial services CEOs (i.e. Corzine, Lewis and Blankfein) who have appeared on Capitol Hill in the past. For more analysis of the Dimon hearing, check out my interview with CLSA bank bear Mike Mayo.