MCCAIN SENDS LETTER TO HOLDER ABOUT MEETING WITH JPM'S DIMON

     (The following press release from Senator McCain's office was received by 
e-mail. The sender verified the statement.) 
FOR IMMEDIATE RELEASE:                                        Contact: Brian 
Rogers or Rachael Dean
Monday, September 30, 2013                                                       
(202) 224-7130 
SENATOR JOHN McCAIN SENDS LETTER TO ATTORNEY GERNERAL ERIC HOLDER ON MEETING 
WITH JPMORGAN CEO JAMIE DIMON 
Washington, D.C. - U.S. Senator John McCain (R-AZ) today sent a letter to U.S. 
Attorney General Eric Holder regarding his meeting with JPMorgan CEO Jamie 
Dimon about investigations into JPMorgan's issuance of mortgage-backed 
securities in the lead-up to the financial crisis. 
The text of the letter is attached and below. 
September 30, 2013 
The Honorable Eric H. Holder, Jr.
The Attorney General
U. S. Department of Justice
Robert F. Kennedy Building
950 Pennsylvania Avenue, N.W.
Washington, D.C.   20530 
Dear Mr. Attorney General: 
News reports indicate that you personally met last Thursday with JPMorgan CEO 
Jamie Dimon in the course of settlement talks between JPMorgan Chase and the 
Department of Justice (DOJ).  Your meeting with Mr. Dimon reportedly centered 
on multiple investigations into JPMorgan's issuance of mortgage-backed 
securities in the lead-up to the financial crisis.  These discussions are 
taking place while DOJ is also investigating the bank's actions related to the 
$6 billion "London Whale" trading losses, which the Senate Permanent 
Subcommittee on Investigations independently investigated. 
Your personal meeting with the CEO of the corporate target of a major criminal 
investigation, at the request of the CEO, while negotiations on a global 
settlement agreement are pending, is highly unusual and, under the 
circumstances that the meeting occurred, gives rise to concern.  It is 
noteworthy that at the same time the bank is facing a litany of regulatory woes 
that carry hefty fines and potential liability in private civil suits, 
individuals within JPMorgan and other similarly culpable financial institutions 
have escaped accountability. 
JPMorgan's misconduct seriously harmed investors, wreaked havoc on our nation's 
financial security, and continues to have painful effects on homeowners in 
Arizona and around the country.  Any government response relating to these 
events must hold the proper institutions and individuals accountable.  In 
matters involving major corporate malfeasance, individual accountability is 
vital to deterring similarly severe misconduct by financial institutions and 
their officers, directors, or key employees in the future.  Government 
enforcement actions must no longer be viewed by institutions and their 
management teams as simply the cost of doing business. 
With this in mind, please provide responses to the following questions when the 
settlement agreement is announced: 
1.      Is the DOJ considering requiring admissions of wrongdoing on the part 
of any individuals within the bank as part of the settlement negotiations?  If 
not, why not? 
2.      Will the settlement agreement with the company preclude either civil or 
criminal enforcement action against individuals at JPMorgan? Why or why not? 
3.      Will you seek to hold any top officer, director or key employees within 
JPMorgan personally accountable for the wrongdoing? 
4.      Please describe how each of the following will be determined and 
structured in any potential settlement.
a.         Penalties
b.         Fines
c.         Disgorgement
d.         Compensatory damages and/or restitution
e.         Admissions of wrongdoing 
5.      How will the DOJ ensure that the settlement provides the proper relief 
for consumers? 
6.      Will any settlement reached specify whether JPMorgan is permitted to 
receive a tax deduction or favorable tax treatment for any resulting 
restitution, fines or penalties, or will such a determination be left to the 
IRS?  How will this decision be reached? If deductions are permitted, please 
specify which aspects of the proposed settlement will be given favorable tax 
treatment. 
Thank you for your timely response to this matter. If you have any questions or 
concerns, please contact Stephanie Hall, Counsel to the Minority, Permanent 
Subcommittee on Investigations, at 202/224-XXXX. 
Sincerely, 
John McCain
Ranking Member
Permanent Subcommittee on Investigations 
cc:  Edward DeMarco
Acting Director
Federal Housing Finance Agency
400 7th Street, SW
Washington, DC 20024 
Eric T. Schneiderman
New York State Attorney General
Office of the Attorney General
The Capitol
Albany, NY 12224-0341 
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