from a comment below the article. "Welcome Ladies and Gentlemen to the longest running Wall Street show in history. Before we begin, a special announcement: Today, the lead role of LTCM will be played by JPMorgan. Thank you, and enjoy the show!" A role previously by Victor Neiderhoffer, 2 or 3 times, bear, lehman, JPM, Merrill Lynch... The only question is which will close down first. The entire US economy or Wall Street banks running the U.S. govt.
from a comment below the article. "Welcome Ladies and Gentlemen to the longest running Wall Street show in history. Before we begin, a special announcement: Today, the lead role of LTCM will be played by JPMorgan. Thank you, and enjoy the show!" ----
Double trouble at JP Morgan: trader's losses could exceed $7bn http://www.independent.co.uk/news/w...-traders-losses-could-exceed-7bn-7771347.html The cost of JP Morgan's gambling addiction just keeps going up.
Jamie Dimon goes to bed each night thinking, "Fuck the naysayers, I'll do whatever I want to the public". Taxpayers will probably again be on the hook if JPM incurs big losses. But all is not well. Go to a website like Reddit, or wherever hackers hang out. They say they are gunning for Dimon's personal emails, JPM's emails, and indeed any Wall Street documents and info. Employees are being encouraged to leak docs on illegal activities. Dimon could be sitting in jail, if the hackers can get to the good stuff. (who thought John Edwards would be facing jail this week for his actions?). The days of screwing over the public and retreating to your castle at night are over. Dimon is probably being probed as we speak..........
"The stock market......... a legal venue for a banksta and his crew to dump an over hyped IPO at triple the value to a group of retail muppets.â s
========= Thanks for[$7 billion/loss] the read Whale errror attracted sharks... Not that derivatives or trading is gambling; unless one buys options on casino stock If you think trading is gambling, contrast the way brokers & casinos treat/kick out skilled players.
I don't mind banks trading. That's what all businesses do: to make money. But Demon should not lie in public that those bets were "hedging." Those bets are clearly not hedging, they were independent trades. Again, losses are common in trading, but I hate liars. And Jamie Demon is a liar. He should be removed from office for lying.