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Mr. Dimon Goes to Washington

msog87

Banned
Dec 11, 2011
2,071
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JP morgan lost their own money, this whole thing is a joke. congress and the u.s. govt LOSES TAXPAYERS money all the time why don;t they get mad at themselves
 

Big Sleazy

Active member
Sep 13, 2004
3,535
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Yes, but who made the $2 billion that J.P. lost? For every dollar lost, a dollar is made )by somebody).
My issue is that these Banks were bailed out. They are taking the bail out money and speculating with it. The actual loss is a lot bigger than 2 Billion. The following week JPM had to sell 25B to cover this so called 2B dolllar loss. That's 25B of good assets. They estimate that the CDS ( credit default swaps ) that JPM has on it's books is 73 Trillion dollars !. That's more than the entire world's GDP. And that's just one Bank !

When you say " for every dollar lost a dollar is made somewhere " your talking about a mark to market economy. These Banks don't have a buyer and a seller. They're fake trades so they can pay themselves commissions off the US tax payer dollar ! When it blows it's going to make 2008 and the Lehman's crash look like a cake walk !

BS
 

msog87

Banned
Dec 11, 2011
2,071
1
0
My issue is that these Banks were bailed out. They are taking the bail out money and speculating with it. The actual loss is a lot bigger than 2 Billion. The following week JPM had to sell 25B to cover this so called 2B dolllar loss. That's 25B of good assets. They estimate that the CDS ( credit default swaps ) that JPM has on it's books is 73 Trillion dollars !. That's more than the entire world's GDP. And that's just one Bank !

When you say " for every dollar lost a dollar is made somewhere " your talking about a mark to market economy. These Banks don't have a buyer and a seller. They're fake trades so they can pay themselves commissions off the US tax payer dollar ! When it blows it's going to make 2008 and the Lehman's crash look like a cake walk !

BS
all the taxpayer bailout funds have been paid back, JPM was probably the best bank on wall st in terms of solvency. yes all these banks shouldnt have been bailed out, but they know they are too big to fail. banks are also speculating to make money bc the govt has rates so low. my poiny is let JPM lose all their money, just don;t bail them out then who gives a fuck
 

Big Sleazy

Active member
Sep 13, 2004
3,535
8
38
all the taxpayer bailout funds have been paid back, JPM was probably the best bank on wall st in terms of solvency. yes all these banks shouldnt have been bailed out, but they know they are too big to fail. banks are also speculating to make money bc the govt has rates so low. my poiny is let JPM lose all their money, just don;t bail them out then who gives a fuck
Your smoking crack. All the US Banks and most Western Banks are insolvent. They're kept afloat by the Federal Reserve. If they had to open up they're derivative books you would see 73 Trillion dollars in derivatives that are not accounted for. And what about JPM and there Silver short position ???

BS
 

msog87

Banned
Dec 11, 2011
2,071
1
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Your smoking crack. All the US Banks and most Western Banks are insolvent. They're kept afloat by the Federal Reserve. If they had to open up they're derivative books you would see 73 Trillion dollars in derivatives that are not accounted for. And what about JPM and there Silver short position ???

BS
like I said the tarp funds have been paid back, the fed is keeping bnks alive with low rates propping up their assets. we don't know whats exactly on american banks balance sheets, I agree that basically every western bank is insolvant but JPM is the most sound. anyway its none of congresses business what JPM does, if they fuck up they should be allowed to fail congress is so retarded that they don't realize the banks are gonna take risks bc they know their losses are insured by the taxpayer thats not how things are supposed to work
 

Big Sleazy

Active member
Sep 13, 2004
3,535
8
38
How can you say JPM is the most solvent ? They own 73 trillion dollars worth of derivatives they aren't accounting for. The only reason they exist is they are the Federal Reserves Bank of Banks. They stole MF Global customer funds to cover a short position where they placed a bad bet. The reality is this reminds me of the run up to the great depression. Where the robber barons were lining there pockets until the ponzi scheme finally crashed. Except this time it won't be the Great Depression. It will be the Greatest Depression in the history of man !

BS
 

msog87

Banned
Dec 11, 2011
2,071
1
0
How can you say JPM is the most solvent ? They own 73 trillion dollars worth of derivatives they aren't accounting for. The only reason they exist is they are the Federal Reserves Bank of Banks. They stole MF Global customer funds to cover a short position where they placed a bad bet. The reality is this reminds me of the run up to the great depression. Where the robber barons were lining there pockets until the ponzi scheme finally crashed. Except this time it won't be the Great Depression. It will be the Greatest Depression in the history of man !

BS
how the fuck do you know what derivatives they have
 

Rockslinger

Banned
Apr 24, 2005
32,783
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According to 680NEWS, The New York Times is saying the loss is $9 billion. A billion here a billion there and the number gets pretty large.
 

msog87

Banned
Dec 11, 2011
2,071
1
0
According to 680NEWS, The New York Times is saying the loss is $9 billion. A billion here a billion there and the number gets pretty large.
profit for the bank is about 15 billion a year so its a pretty big hit but rest assured dimon will get his bonus
 
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