On his show Thursday night, The Daily Show host Jon Stewart mocked members of the Senate Banking Committee for going soft on JP Morgan Chase CEO Jamie Dimon after his firm lost at least $2 billion gambling on derivatives.
During the hearing, Republican senators complimented Dimon and praised his financial empire.
“What is going on with this panel of senators,” Stewart wondered. “They’re sucking up to Dimon like they’re on JP Morgan’s payroll.”
It turns out, the biggest campaign donor to many of the senators was JP Morgan. Throughout the hearing, the senators asked for Dimon’s advise and berated their own legislative body.
Stewart ripped into Sen. Bob Corker in particular. The Senator had questioned the effectiveness of the Dodd-Frank Wall Street reform bill, even though he fought against key provisions of the law.
“Must be nice to be a Republican senator sometimes,” he joked. “Cus you get the fun of breaking shit and the joy of complaining the shit you just broke doesn’t work.”