Two Republican members of the Senate subcommittee, Mr. McCain and Senator Ron Johnson of Wisconsin, argue that JPMorgan's high-handed and dismissive attitude toward regulators highlight a troubling issue: the firm believing it could act with impunity.
"This bank appears to have entertained, even embraced, the idea that it was too big to fail," Mr. McCain says. He adds that it is the Senate's job to remind financial institutions of their obligation to the general public.
His colleague chimes in, saying, "JPMorgan appears to have developed its business model around the fact that it's too big to fail."
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