Today during the Fed's testimony to the House Financial Services Committee, Liz Warren waited her turn patiently until the end of the day. I just love Liz for saying it the way it is. No holds barred.
After comparing Lehman at the time of it's collapse, LEH had $639 Billion in assets. Today JPM has $2.5 Trillion (more than 4x LEH) in assets. LEH had 209 subsidiaries. Today JPM has.........are you ready for this...............3,391 subsidiaries! Too big to fail? Wowwww.
Then once done pointing out JPM's notably 15 times more subsidiaries than Lehman, Liz went on to question JPM's resolution plans to remain viable in case of a risk event. Clearly determined to make one thing crystal clear to the Fed's Janice Yellen, she went on to say..............well, you watch the two minute clip.
