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.
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”.