General Discussion

JDPriestly

(57,936 posts)

13. Short, succinct statement of the facts about the Morgan fiasco.

Fri May 11, 2012, 03:47 PM

May 2012

"It’s a simple concept: you either get to be a bank, or you get to be a casino. But you can’t be both. If we don’t have rules to enforce that concept, we ought to get some."

Read more: http://www.rollingstone.com/politics/blogs/taibblog/jamies-cryin-dimon-j-p-morgan-chase-lose-2-billion-20120511#ixzz1ub0p91io

Can't disagree. Seems like reasonable people should act reasonably and end the socially irresponsible practices of these hermaphrodite banks.

And please, I do not mean any insult to those may actually be have been born as hermaphrodites. I am using the term to refer to the ambiguity regarding certain bank/investments houses.

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Matt Taibbi on the JP Morgan fiasco.... [View all] trumad May 2012 OP

5, 4, 3, 2......... Guy Whitey Corngood May 2012 #1

Tee hee gratuitous May 2012 #5

Any minute now. Wait for.... wait for it..... Guy Whitey Corngood May 2012 #6

"the loss, which stemmed from a hedging strategy that backfired" aint_no_life_nowhere May 2012 #2

It's not as bad as it looks. Just a little gov't loan and payout of full bonuses (everyone's , SDjack May 2012 #3

twould be interesting to see WHAT they bet on!!!!! benld74 May 2012 #4

Let them gamble with their own damned money and hifiguy May 2012 #7

I suspect ... 1StrongBlackMan May 2012 #8

Taibbi's mother was a hamster and his father smelt of elderberries IDemo May 2012 #9

Matt Taibbi is an excellent journalist. Smilo May 2012 #10

Once again, nailed it like only Matt can do. Ruby the Liberal May 2012 #11

Well, Chase bank can be both. Just ask Jamie Dimon. shcrane71 May 2012 #12

Short, succinct statement of the facts about the Morgan fiasco. JDPriestly May 2012 #13