Elizabeth Warren: I know too much about banking for Wall Street's liking

Elizabeth Warren fired back at Jamie Dimon for suggesting she has no clue what she’s talking about in her attacks on Wall Street.

“The problem is not that I don’t understand the global banking system,” the Massachusetts Democrat told the Huffington Post’s “So That Happened” podcast. “The problem for these guys is that I fully understand the system and I understand how they make their money. And that’s what they don’t like about me.”


Dimon, the head of JPMorgan Chase, criticized Warren on Wednesday at an event for the Executives’ Club of Chicago for her outspoken populist railing against Wall Street’s largest financial institutions. “I don’t know if she fully understands the global banking system,” he said.

Warren dismissed his comments outright but did concede that it is a tough burden for regulators to deal with every complex financial product that banks and financiers invent, largely because the products’ purpose may be to elude oversight. She suggested that the solution to the issue is structural reform.

“If banking is boring, the regulatory part can be boring too,” she said. “Banking that is backed up by the taxpayers needs to be simpler and easier to follow, in part because that makes regulation easier.”

The hosts also asked Warren whether or not Dimon was “mansplaining” in his criticism of her. She dodged, and then one host asked if he was mansplaining by even posing the question.

“We’ll have to call in a mansplaining expert to figure that one out,” Warren responded.