For 52 years, CBS’s 60 Minutes’ investigative reporting of corporate misdeeds earned 140+ Emmy Awards and 20+ Peabody Awards, plus many others. When the late Mike Wallace was reporting for the show, the words that struck terror in the hearts of many a CEO were, “Sir, Mike Wallace is here to see you.” Most wisely made a hasty retreat out the back door, but the truly foolish said “Show him in.”
If there is a “Mike Wallace Award” for a congressional hearing, I nominate Representative Katie Porter (D – Calif.). Any CEO testifying before the House Finance Committee, of which Ms. Porter is a member, knows there will be no ’winning.’ There is never going to be a ’winning.’ Their only hope for any redemption is to contain their humiliation.
The most recent example of that statement is Katie Porter questioning J.P Morgan’s CEO, Jamie Dimon. She confronts him with the reality of an entry-level employee living on their J.P. Morgan salary.
In a follow-up article published in The Objective Standard, How Jamie Dimon Should Have Answered Representative Katie Porter, Michael Dahlen suggested an answer to her questions, and I quote:
”Jamie Dimon should have told @RepKitiePorter that @JPMorgan Chase’s profits are earned and that the company has a moral right to decide how to use its earnings.”
Besides being tone-deaf, Mr. Dahlen appears to have never seen an episode of 60 Minutes nor heard Ms. Porter questioning a witness. If he had, he would have suggested: “look for a back door”.