JPMorgan suffers big loss. Oopsie!

[Political Junky]

lost a couple of billion dollars..



some American fortunes have evaporated.

Yes, isn't freedom from regulations grand?

 

[Jroc]

The $2 billion loss could grow since these things are usually understated by banks. Even so, the trading screw-up will barely register on JPMorgan Chase’s balance sheet. The firm is expected to report a $4 billion profit for the second quarter—after writing down the bad trade—and it has more than enough capital to handle the financial aftershocks that might occur.

JPMorgan Chase Lost $2 Billion But Dimon Lost His Golden Status - The Daily Beast

 

[Jroc]

Ah yes, but don't even dare mention the word, regulation. Some of these perps should be headed for the federal pen.

[ame=http://www.youtube.com/watch?v=OgyqaqTpgeY]Corzine clueless on MF Global money - YouTube[/ame]

 

[Political Junky]

So how many at JP MOrgan will lose their jobs over this? 1?

The main concern is that Dimon gets his $23,000,000. a year.

 

[BDBoop]

Ever hear of AIG? It was just one division that brought it down: AIGFP. The rest of AIG was profitable, too.

Read the article, then we'll talk

Dude. I have been following this particular trading division since before you even heard of them. Everyone has been waiting for the shoe to drop.

It might be news to you, but it is neither news nor a surprise to me.

This is representative of the prevailing attitude on Wall Street which has not changed one whit, despite their crashing of the world's economies. Wall Street is operating EXACTLY as it did before. They have changed nothing about their operations.

That is the big picture you are missing. This is about more than this particular $2 billion loss.

That is why I highlighted Dimon's green light to massive speculation. You think this division is the only one he gave that green light to?

Don't be a sucker. Again.

Dude. I have been following this particular trading division since before you even heard of them. Everyone has been waiting for the shoe to drop.

It might be news to you, but it is neither news nor a surprise to me.

This is representative of the prevailing attitude on Wall Street which has not changed one whit, despite their crashing of the world's economies. Wall Street is operating EXACTLY as it did before. They have changed nothing about their operations.

That is the big picture you are missing. This is about more than this particular $2 billion loss.

That is why I highlighted Dimon's green light to massive speculation. You think this division is the only one he gave that green light to?

Don't be a sucker. Again.


As proven over and over, greed is a powerful motivaator.

And when you have a group of power politicians in Congress protecting you from regulation and oversight, well......what's a poor trader to do but bet the farm. Especially when playing with other peoples money.

Done it before, made a lot of money, didn't go to jail, why not try it again.

I luv the vision of America the rethugs represent. Casino like. Why can't we all be millioniare's like Mitt?? Little less regs, little more coruption, hey, it's all among "friends".

I like the plutocracy we live under. Dem people's crazy. Funny all the time. But don't tax em more. They are (as spoken by God) the "JOB CREATORS".
15% ain't low enough.

But 20 years in jail might be long enough.

.......... sock?

 

[Flopper]

lost a couple of billion dollars..



some American fortunes have evaporated.

Yes, isn't freedom from regulations grand?

Regulation is a joke for these guys. Just as they are too big too fail, there're too big to regulate. Their lobbyist shape the laws and regulations. They choose their regulators in the way they organize their business. They create products that cross lines of business and are so complex, no one can figure out how to regulate them or determine their value. Anything they don't want regulated, they move off shore.

Deregulation of the financial industry brought on a wave of mergers that created these monsters. Investors demand ever higher returns so they accommodate by taking higher and higher risks. Wall Street is looking more and more like a casino than the source of capital for economic expansion.

 

[Trajan]

FDIC insured banks should not be allowed to own, sell, hypothicate, borrow against or even look at these securities.

If you want to trade, use and lose your own money and leave me out of it

Agree with this one. Tearing down the firewall between investment banking in and commercial banking, is another reason why Greenspan should have been put in prison, and Reagan should be despised for supporting it.

This comingling of deposits and investment banking was one of the key causes of the Great Depression. Greenspan/Reagan were numskulls on that deregulation.

what the hell are you on?



Gramm–Leach–Bliley Act (GLB), ( the repeal of Glass–Steagall) was signed in....1999....by????

come on, its a gimme , who was president in 1999?

 

[Trajan]

mountain, meet mole hill...noting to see here. except more reasons to meddle.