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"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.
May 21, 2012 at 12:57 PM | Permalink
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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.
May 21, 2012 at 05:07 PM
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 |
May 21, 2012 at 05:37 PM
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?
Bill Yaner |
May 21, 2012 at 07:12 PM
Bring back Gsals Sagaetl
May 21, 2012 at 08:52 PM
That does not make sense to me, Hamztran. Does it to you?
Bill Yaner |
May 21, 2012 at 10:15 PM
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.
Billy Jones |
May 21, 2012 at 10:50 PM
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.
May 22, 2012 at 07:46 AM
"That does not make sense to me, Hamztran. Does it to you?"
He meant to say Grass Seagull.
May 22, 2012 at 09:05 AM
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