In The News Today

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Bill Holter’s Commentary

Comical? Or does it affect markets?

Big Banks Expected To Testify Before House Financial Services Committee In March
January 24, 2019

The chief executives from some of the biggest U.S. banks are expected to testify before the House Financial Services committee in March, two sources told CNBC.

J.P Morgan Chase CEO Jamie Dimon, Goldman Sachs’ David Solomon and Wells Fargo’s Tim Sloan are among the bank executives expected to testify, the sources said. Bank of America’s Brian Moynihan and Morgan Stanley’s James Gorman are also expected to testify.

The CEOs would be testifying in front of Rep. Maxine Waters, D-Calif., who became the committee’s chair earlier this month. Waters recently met with Solomon and Dimon in private, people with direct knowledge of the matter have told CNBC.

One of the bank executives expected at the hearing told CNBC that Waters said “she wanted to get all the CEOs in to talk about how they could better support the economy.”

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Bill Holter’s Commentary

…Or is the gold even there?