JPMorgan's CEO Jamie Dimon was back on Capitol Hill today answering questions about the bank's $2 billion loss.
As is often the case, the questions weren't always about the $2 billion loss.
"Do you think at the level of $180 million you can get smart regulation of the CFTC (Commodity Futures Trading Commission)?" asked Congressman Barney Frank.
"I have never looked at their budget," Dimon replied. "It would be impossible for me to comment on it." Rep. Frank pushed back, before finally saying, "Well, once again, I'm disappointed."
Could you have asked better questions? Would you, dear reader, be more on target than Rep. Sean Duffy of Wisconsin, who asked if JP Morgan's losses could ever approach $1 TRILLION? "Not unless the Earth is hit by a moon," Dimon replied dryly.
I decided to ask regular folks for suggestions on what they would ask Dimon. For fun, I went to the last place you might expect an intelligent question about banking—the fringe of La-La land—the beach in Santa Monica. Don't let the wetsuits fool you.