"Nobody’s clear about the Volcker Rule...It’s 270 some pages and if you gave it to six experts on the subject, they’d come back with seven interpretations what it means."

No, really? Wonder how that happened.

Banks are going to gamble with insured deposits as long as we let them.

Comments

[justcorbly]

People would be better able to fend off anti-regulation rhetoric about stifling innovation and thwarting job creators if they understood that banks are innovating with their money. I suspect we'd be surprised how many people don't.

[Bill Yaner]

I must confess to more than a little schadenfreude over Herr Dimon's twisting in the breeze these days. Gee, up to 6 billion in losses? What a shame.
Maybe if he had't led the charge against Dodd Frank I'd be more sympathetic to his plight.

But doesn't life deliver up to us sometimes the kind of stuff that would look totally contrived if written as fiction?

[Bill Yaner]

More on JP Morgan Chase's huge bet on the 150 companies' bonds: seems that hedge fund managers all over the place now are taking positions against their success and JP Morgan can't sell, i.e. downsize their insurance. So the hedge funds are just waiting while the paper losses keep mounting. Still nothing sold by JP, but when they do? Oh, my!

Like watching piranhas go at it in a fish bowl. Which one do you root for?

[Hamztran]

Bring back Gsals Sagaetl

[Bill Yaner]

That does not make sense to me, Hamztran. Does it to you?

[Billy Jones]

Bill wrote, "But doesn't life deliver up to us sometimes the kind of stuff that would look totally contrived if written as fiction?"

There's probably not a writer alive today that could write fiction that matches in scope, scale or magnitude.

[Thomas]

BY - You can enjoy Dimon's plight, but never forget it wasn't his money that was lost. So far, the only harm to him has been embarrassment.

[bubba]

"That does not make sense to me, Hamztran. Does it to you?"

He meant to say Grass Seagull.