Research Briefing

Democrat Senators Call For Investigation Into J.P. Morgan Three Months Before Obama Names J.P. Morgan Executive As Chief Of Staff

OCTOBER 6, 2010: Democrat Senators Called For An Investigation Into J.P. Morgan Chase’s Potentially Illegal Foreclosures. “Today, U.S. Sens. Al Franken (D-Minn.) and Robert Menendez (D-N.J.) pressed the Government Accountability Office (GAO) to investigate whether Ally Financial, JP Morgan Chase, Bank of America and other mortgage servicing companies and banks routinely filed false affidavits, triggering thousands of illegal foreclosures on unwitting homeowners in Minnesota and across the country.” (Sen. Al Franken, “Franken, Menendez Call For GAO Investigation Into Mortgage Fraud,” Press Release, 10/6/10)

JANUARY 6, 2011: Obama Taps JPMorgan Chase Executive Bill Daley As His Chief Of Staff. “President Barack Obama on Thursday named as his new chief of staff J.P. Morgan Chase & Co. (JPM) executive Bill Daley, a former Commerce Department secretary who will bring Wall Street credentials at a time when the administration mulls an overhaul of the corporate tax code.” (Jared A. Favole, “US Obama Taps JP Morgan Exec Daley As Chief Of Staff,” The Wall Street Journal, 1/6/11)

• Daley Has Been The Midwest Chairman Of J.P. Morgan Chase Since 2004.  “CHICAGO, May 17, 2004 - William B. Harrison, Chairman and Chief Executive Officer of J.P. Morgan Chase & Co. (NYSE: JPM), and James Dimon, Chairman and Chief Executive Officer of Bank One Corporation today announced that William M. Daley will become Chairman of the Midwest of JPMorgan Chase. He will report to Mr. Harrison and will serve on the combined firm's Executive Committee upon successful completion of the companies' merger.”  (JP Morgan Chase & Co, “William M. Daley Named Chairman Of The Midwest Of JPMorgan Chase,” Press Release, 5/17/04)