Congresswoman Katie Porter grills billionaire CEO over pay disparity at JP Morgan

so where we left off was this woman hat

and I apologize you're gonna need to

follow orally she had 24 2425 dollars a

month she rents a one-bedroom apartment

she and her daughter sleep together in

the same room in Irvine California that

average one bed her apartment is gonna

be $1,600 she spends $100 on utilities

take away the 1,700 and she has net 725


she's like me she ties a 2008 minivan

and has gas $400 for car expenses and

gas net 325 the Department of

Agriculture says a low-cost food budget

that is ramen noodles a low food budget

is $400 that leaves her 77 dollars in

the red she has a crooked cellphone the

cheapest cell phone she can get for $40

she's in the red 117 dollars a month she

is after school child care because the

bank is open during normal business


that's 450 a month that takes her down

to negative five hundred and sixty seven

dollars per month my question for you

mr. diamond is how should she manage

this budget shortfall while she's

working full-time at your bank I I don't

know that all your numbers are accurate

that number is a start is it generally a

starter job she is a starting employee

she has a six-year-old child this is her

first job you can get those jobs out of

high school and she may have my job one

day she made it mr. diamond she doesn't

have the ability right now to spend your

thirty-one million dollars wholly

sympathetic you short 567 what would you

suggest she do I I don't know I have to

think about that would you recommend

that she take out a JPMorgan Chase

credit card and run a deficit I don't

know I'd have to think about it would

you recommend that she overdraft at your

bank and be charged overdraft fees I

don't know I never think about it so I

know you have a lot of love to call up

and have a conversation about her

financial affairs and see if we can be

helpful see if you can find a way for

her to live on less than the minimum

that I've described just be helpful well

I appreciate your desire to be helpful

but what I'd like you to do is provide a

way for families to make ends meet so

the little kids who are six years old

living in a one-bedroom apartment with

their mother aren't going hungry at

night because they're 567 dollars short

from feeding themselves clothing we

allowed no money for clothes

we love no money for school lunches we

allowed no money for field trips no

money for medical no money for

prescription drugs nothing and she's

short five hundred and sixty seven

dollars already mr. Damon you know how

to spend 31 million dollars a year in

salary and you can't figure out how to

make up a five hundred and sixty-seven

dollar a month shortfall this is a

budget problem you cannot solve