Commentaries

from Rolfe Winkler:

Lunchtime Links 12-11

December 11, 2009

Jamie gets a deal! (Bloomberg) Prof. Linus Wilson had been estimated that warrants the government got as part of its TARP bailout for JP Morgan were worth $11-$37.  They ended up selling for $10.75. The lower price is most likely because these are not common securities, are illiquid, and therefore worth less than we all thought. Can't really complain. The market spoke. Dimon looks smart for refusing to negotiate bilaterally with Treasury to repurchase them. Treasury was driving too hard a bargain. IIn retrospect, that means the deals on TARP warrants for the likes of AmEx and Goldman ended up going off much better for taxpayers. But Hank Paulson still did far worse negotiating with banks for emergency capital than Warren Buffett. Shame.

A Dimon in waiting?

September 29, 2009

It’s a natural impulse of journalists to herald a top-level corporate management shake-up as setting the stage for a new heir apparent to a strong-willed chief executive. And not surprisingly, that’s how some in the financial media are reacting to news of today’s changing of the guard of JPMorgan Chase’s investment banking division.

Jamie vs. Lloyd

July 20, 2009

Depending on your point of view, Jamie Dimon is the saint of Wall Street and Lloyd Blankfein is Wall Street’s biggest villain. Or vice-a-versa. Or maybe they’re both villains.