The 2019 class of freshman Congressional Democrats have given the American people and the press no shortage of things to talk about. It’s interesting watching the new representatives get their feet wet with their first few months of committee meeting hearings.
Everyone is pretty accustomed to the grand standing and political theater of these witness type interviews where sacrificial witnesses are brought before committee and pelted with questions about the scandal do jour.
Recently the Houses Financial Services Committee met with the presidents of three large banks and questioned them on a variety of topics, yet it was Rep. Katie Porter (D-Irvine) and her exchange with Chase Bank President Jamie Dimon that has gone viral.
It’s best if you just watch the whole clip but the summary is that Rep. Katie Porter was explaining to Mr. Dimon that it’s expensive to live in her hometown of Irvine in California’s 45th Congressional District. She used the example of a single mom named Patricia and laid out a monthly budget showing that it’s tough to make ends meet with a Chase bank entry level job.
Porter repeatedly mentioned Dimon’s $31 million annual salary as CEO of one of the nation’s largest banks and pressed him on what he has done to help this single mom come up with a monthly budget solution.
Missing from the mainstream media, was an explanation of two key factors: 1) As California has become increasingly progressive under the policies that Porter champions, it has at the same time become one of the most expensive places to live in the country, especially in Orange County. 2) The entry-level position, requiring zero experience was never meant to sustain a family of two in the nation’s most expensive places to drive, eat and live.