It's hump day...
The big bank CEOs - including those from JPMorgan Chase (JPM - Get Report) , Goldman Sachs Group (GS - Get Report) , Citigroup (C - Get Report) and Morgan Stanley (MS - Get Report) - will be on Capitol Hill Wednesday to discuss regulation in the financial sector post the financial crisis of 2008. They are expected to say that the financial system is less risky and better supervised than it was a decade ago thanks to regulatory reforms that have been implemented, according to The Wall Street Journal.
"There is no doubt that the strength, stability and resiliency of the financial system has been fundamentally improved over the course of the last 10 years," said Dimon in prepared testimony ahead of his appearance Wednesday. "Post-crisis reforms have made banks much safer and sounder in three important areas: capital, liquidity and resolution and recovery.
Jeff Marks, senior portfolio analyst for Jim Cramer's Action Alerts Plus portfolio, weighed in on the hearings from the perspective of the portfolio.