JPMorgan Chase CEO Jamie Dimon, who will testify today before the House Financial Services Committee, plans to stick to the script from his first appearance last week on Capitol Hill, the New York Times DealBook blog reported yesterday. Dimon's prepared remarks for the House panel, released yesterday, tracks nearly word for word with his remarks prepared for last week's Senate Banking Committee hearing. There are, however, a few trivial changes scattered in the four-page testimony. In highlighting the bank's "fortress balance sheet," Dimon clarifies that the bank has "well over $30 billion in reserves," sans an earlier specification that the money was "loan loss" reserves. It is unclear why the bank abandoned the earlier wording. In the House committee version, Dimon also tempered an earlier boast that, as "one of the largest small business lenders," the bank’s lending to small businesses jumped 70 percent. It turns out, the actual jump was 52 percent. The tweaked House testimony clarifies the earlier proclamation. Click here for more information on the House Financial Services Committee hearing.
