JPM, Loss growing to $6-7billion

gs and all the other hedge funds.
this is likely to need and Obama bailout.
an obama will tell the Fed to do it.
 
Quote from lwlee:

Looks like it's going to get worse before it gets better.

JPM going under $30? ...

JPMorgan Chase loss only going to get worse
More...
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This is really getting strange;
that article quoted the former general counsel for Long Term Capital Management, which never quite lived its name
:D

Wall Street Journal [May21,2012] noted Mr Goldman[chief risk officerfor JPM ]was relieved of his duties this month. That may not mean much;JPM halted his trading in 2008...Gold was up today/long term gold trend is up.Wonder if JPM covered all its silver shorts?? Many dealers & silver bulls were mad about that ; but never was real sure why the dealers were mad-they sell more when price is low, like gas dealers.

The regulatory risk[USA, EUROPE increased, plus the FBI is in it now.

In fairness to JPM;
lots of it is not thier doing-its JPM is in BAC sector, C sector. C made news AGAIN,[May 21 the WSJ]-overpaid CEO again .LOL, C shares were down 3 years- 27%, Citigroup CEO got $43 million
:D
 
Quote from jem:

gs and all the other hedge funds.
this is likely to need and Obama bailout.
an obama will tell the Fed to do it.
More...

i think if a bank loses more than 5 billion dollars the CEO should be sent to the electric chair with his family. how else do you punish a guy like Mr. Dimon who is worth 200 million dollars? or even Mr. Corzine?
 
Dead money. They've gimped Dimon permanently. He can no longer short convexity under the radar. They made a lot of cash from prop masquerading as treasury functions and that ends now.

The free money comes to an end within the next 3 years and the mkt is a discounting mechanism.
 
Quote from atticus:

Dead money. They've gimped Dimon permanently. He can no longer short convexity under the radar. They made a lot of cash from prop masquerading as treasury functions and that ends now.

The free money comes to an end within the next 3 years and the mkt is a discounting mechanism.
More...

i think the government hoped banks would help job growth instead of just help themselves. the truth of the matter is everything is propped up by giving banks free money. its sad but true.
 
If your a bank and your bets are backed by the full faith and force of the us treasury and your allowed to gamble why would you engage in traditional banking?

Why wouldn't you martingale to the moon and make billions? Not sure how they messed up... unless... these bets were no longer being covered by the treasury...

Seems they could have kept things hush and back doored a bailout unless the goldman alumni showed them the door.
 
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