JPMorgan CEO Jamie Dimon met with Treasury Secretary on Volcker in March
By Nancy Watzman May 16 2012 2:34 p.m.Newly published meeting logs from the Treasury Department show that Jamie Dimon, CEO of embattled JPMorgan & Chase, had a private audience with Secretary Timothy Geithner to discuss the Volcker rule and other issues on March 6.
The logs also show that JPMorgan executives attended two other meetings that same month. Volcker was also on the table at another Treasury session the same day, this one a larger meeting with Deputy Assistant Secretary Lance Auer that also included representatives with other groups such as Credit Suisse and Goldman Sachs.
The day before, JPMorgan representatives were also present at another group meeting, this one to discuss the issue of securitization, with Auer, Assistant Secretary for Financial Markets Mary Miller, and Tim Bowler.
The Treasury Department updated the meeting log records Wednesday after being prompted by an inquiry from the Sunlight Foundation that the agency's self imposed deadline for releasing records had passed. The agency typically releases records for the previous month at the end of the month, so the current release reflects March meetings. In the past the agency has usually met its own deadlines for posting this information.
Dimon has been a strong critic of the still unfinalized Volcker rule, meant to prevent proprietary trading by banks. He has argued that banks should be able to do the sorts of trades that led to an announced $2 billion loss for the bank last week as a way of hedging investments. The company has historically been a major donor to both Democrats and Republicans.
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