Comments on: JPMorgan: Jamie Dimon and the horse he fell off

By: michaelolenick

michaelolenick — Sun, 27 May 2012 19:20:41 +0000

$2.32 billion in TALF dollars to subsidize GE Capital Credit Card Master Note Trust. That’s a lot of jack, Jack. Which mega-business was it that told Treasury they couldn’t meet payroll if commercial paper wasn’t propped up? Strange .. nobody seems to know.

In any vent, it’s clear that “corporate culling” doesn’t apply to executives.

Like you say, “People can smell, well, let’s just call it ‘baloney,’ a mile away.” Guess what? We can even smell it a few inches away, when it’s staring at us from our computer screens.

By: HiOnow

HiOnow — Sun, 27 May 2012 18:49:27 +0000

Endless meetings and autopsies for for a failed Martingale strategy when Dimon don’t mess with me thought he had the Fed printing press at his back. The curtain has parted and no amount of rallying cries o the troops from a bankster works when no judge, no justice s bust.
This Welch jam is a better take for Yahoo, but it’s so done already. We need more Individual Electric than General Electric here.

By: TobyONottoby

TobyONottoby — Sat, 26 May 2012 16:36:48 +0000

JPM throws good money after bad to cover losses – Decoder (2:30)

JP Morgan sold about $25 billion dollars of valuable securities in order to cover a $2 billion trading loss. That, according to Reuters Alwyn Scott, only adds to the bank’s woes. (May 25, 2012)

http://www.reuters.com/video/2012/05/25/ reuters-tv-jpm-throws-good-money-after-b ad-to-cover?videoId=235653878&videoChann el=117772

By: TobyONottoby

TobyONottoby — Fri, 25 May 2012 14:24:53 +0000

Thank you, Ash-Roy, for reminding us that our patriotic duties include insulting the President of the United States, casting suspicion on the loyalty of our fellow citizens, and praising the former CEO of GE for his insight when he spouts clichés in his monthly puff piece, which, in this installment, is exploited as an opportunity to take swipes at the United States Congress, the CFTC, the FBI and the SEC. Has America changed? You betcha.

By: moxsee

moxsee — Fri, 25 May 2012 12:49:36 +0000

Great article. Jack always has a way to see the beyond a mistake and keep moving forward.

Those who complain are cowards, afraid to act.

By: Acetracy

Acetracy — Thu, 24 May 2012 20:10:10 +0000

Jack and Suzy Welch are missing the big issue here. When you make a mistake, you usually have to pay for it. If I over pay for a contractor, I pay for the mistake. If an underling at JP Morgan makes a mistake, he/she either loses a promotion, salary increase or even their job. What has Jamie Dimon lost? Nada… How much did any of the traders who made these whose losses suffer. Well Ms. Drew got paid $14 million last year so obviously she won’t have to pay.

Who is paying for this error? JP Morgan shareholders and indirectly the tax payers in the USA. Morgan will deduct these losses to reduce their income taxes which they hardly pay any in the past years (due to losses).

Mr Welch, to lead you must show that when mistakes happen on a scale of $billions that you are willing to rethink your whole business model. Nothing, absolutely nothing has been said that Dimon and the rest of Wall Street have learned any lessons about trading losses in derivatives. They keep at it as long as it fattens their pockets and the US taxpayer bankrolls their losses.

By: skimish

skimish — Thu, 24 May 2012 19:59:19 +0000

Why not send Jamie off to run a hedge fund with Jack Welsh’s money (no loans from banks allowed)? Break up JP Morgan/Chase and place consumer deposits into a regulated public utility corporation where a public service commission would set fees and other costs to depositors for maintaining checking and other accounts.

By: Ash-Roy

Ash-Roy — Thu, 24 May 2012 16:29:41 +0000

This is an insightful article…but looks like a lot of people who are posting on this live in Greece, hate free market, envy successful people, ready to elect Hollande (and Oh!bumma) Has America changed? A

By: TobyONottoby

TobyONottoby — Thu, 24 May 2012 16:00:15 +0000

Speaking of grandstanding, I love the smell of baloney in the morning. And it probably costs Reuters no more than a nominal $1/year.

By: IntoTheTardis

IntoTheTardis — Thu, 24 May 2012 15:22:12 +0000

The Welches sound very much like apologists for a man of their own class. Climb back in the saddle? A rah-rah, lets look forward and not backward speech to the troops? Please spare us the country club whiskey and golf course moralizing. A man of lesser stature, and no upper class connections, would have been summarily fired for such an egregious lack for leadership and oversight.