The statement Elizabeth Warren Calls on JP Morgan Chief to Resign from NY Federal Reserve Bank Board is posted on Elizabeth Warren’s web site.

“Wall Street banks continue to have fundamental problems, and tough oversight and accountability are urgently needed. Jamie Dimon deserves credit for taking public responsibility for $2 billion in losses based on a trading strategy he called ‘poorly reviewed,’ ‘poorly monitored,’ and even ‘sloppy.’ But Dimon is not only the CEO of JP Morgan, he is also a member of the Board of Directors of the New York Federal Reserve Bank, where he advises the Federal Reserve on the oversight of the financial industry,” Warren said.

Credit where credit is due, and consequences where consequences are due.  Unless Dimon is willing to make up the $2 billion from his own pocket, he should be fired.  He should feel grateful for living in the United States.  In China, such sloppy management has been known to result in criminal conviction and the death penalty.