JP Morgan Chase Smith Barney whatsis

[TimeForGuinness]

I have no idea what's going on, I suppose I felt like I had to apologize for something...I think it's a side effect of being married.

[AWvsCBsteeeerike3]

A

[lukethedrifter]

I have no idea what's going on, I suppose I felt like I had to apologize for something...I think it's a side effect of being married.

You implied my comment was illogical. An apology wasn't necessary. Party on, Garth.

[Freed Roger]

Political threads always seem to heighten this dynamic. If you say "A", then the prevailing assumption is that you mean "not B". This is the false dichotomy of mainstream politics.

need translation from B school to English

I have no idea what's going on, I suppose I felt like I had to apologize for something...I think it's a side effect of being married.

Lol^

For me it's the Catholic guilt. Haven't been catholic in years, but still can't get rid of it.


I do feel guilty by starting this all off by peeking at the larger picture, ergo, politics. But according to Jamie Dimon, this notion is a tempest in a teapot.

[TimeForGuinness]

I have no idea what's going on, I suppose I felt like I had to apologize for something...I think it's a side effect of being married.

You implied my comment was illogical. An apology wasn't necessary. Party on, Garth.

Ah, I was trying to be humorous with my comment...it wasn't to be taken that seriously. But on the other hand, both you and HJ made good comments...sooo...yeah.

I agree with both.

[lukethedrifter]

And another good commentary:

Hubris, Thy Name is Dimon


On NPR Marketplace the other night -good exchange between the host and a commentator

Ryssdal: Here's the thing though Heidi, you'd think we'd be smarter now because of that whole financial crisis thing.

Moore: No. We have the memory of goldfish. But the problems are also persistent, to be fair. I mean, the real question here is how do we make our banks profitable and are we really ready to accept less profitable banks? I can tell you that the people making $20 million a year are not ready to accept less profitable banks, so this is their kind of magical thinking. They take these big risks because they want the big revenues, they want Wall Street back the way that it was, but the way that it was is the wrong place to be. And there's no acknowledgment of that yet. We need to get Wall Street to acknowledge the trouble that it's creating for itself instead of seeing this as a government problem

Ryssdal: Yeah, which you haven't heard Jamie Dimon, the CEO of JPMorgan, talk about at all. Let me ask you this, though, Heidi. What are the odds that banks not as strong as JPMorgan -- which is the strongest bank out there -- that other banks are doing this?

Moore: The odds are very strong. In fact, Moody's is worried about a number of those banks. Standard and Poor's is taking a look at how it measures risk for those banks as well. There's a Wall Street saying: There's never just one cockroach in the kitchen. So if JPMorgan -- the biggest and supposedly the smartest bank in the country -- is taking these risks, why would anyone else not be taking the same risks? They are under the same pressures. Where are they going to get those profits? Where are they going to get those revenues? It's the equivalent of not being able to pay the bills and taking your last $20 and going to Vegas.

The bolded part is what it's all about. We the people aren't ready to accept less profitable banks. Our financial/economic system can and will not accept less profitable financial institutions.

[TimeForGuinness]

And another good commentary:

Hubris, Thy Name is Dimon


On NPR Marketplace the other night -good exchange between the host and a commentator

Ryssdal: Here's the thing though Heidi, you'd think we'd be smarter now because of that whole financial crisis thing.

Moore: No. We have the memory of goldfish. But the problems are also persistent, to be fair. I mean, the real question here is how do we make our banks profitable and are we really ready to accept less profitable banks? I can tell you that the people making $20 million a year are not ready to accept less profitable banks, so this is their kind of magical thinking. They take these big risks because they want the big revenues, they want Wall Street back the way that it was, but the way that it was is the wrong place to be. And there's no acknowledgment of that yet. We need to get Wall Street to acknowledge the trouble that it's creating for itself instead of seeing this as a government problem

Ryssdal: Yeah, which you haven't heard Jamie Dimon, the CEO of JPMorgan, talk about at all. Let me ask you this, though, Heidi. What are the odds that banks not as strong as JPMorgan -- which is the strongest bank out there -- that other banks are doing this?

Moore: The odds are very strong. In fact, Moody's is worried about a number of those banks. Standard and Poor's is taking a look at how it measures risk for those banks as well. There's a Wall Street saying: There's never just one cockroach in the kitchen. So if JPMorgan -- the biggest and supposedly the smartest bank in the country -- is taking these risks, why would anyone else not be taking the same risks? They are under the same pressures. Where are they going to get those profits? Where are they going to get those revenues? It's the equivalent of not being able to pay the bills and taking your last $20 and going to Vegas.

The bolded part is what it's all about. We the people aren't ready to accept less profitable banks. Our financial/economic system can and will not accept less profitable financial institutions.

I think it's time to join a credit union.

[Hungary Jack]

I wish the business banking options for small biz were better. I have my business checking, merchant processing, credit cards all with Chase, not to mention my home mortgage. I have shopped some competitors, and they don't offer the breadth of services that Chase can offer. Kinda sucks.

[TimeForGuinness]

I have no idea what's going on, I suppose I felt like I had to apologize for something...I think it's a side effect of being married.

Lol^

For me it's the Catholic guilt. Haven't been catholic in years, but still can't get rid of it.

Ha, yeah that eats at me too...my Mother is the worst. She uses Mother's guilt with Catholic guilt...I just give in. It's just not worth the pain to fight it.

[Freed Roger]

I wish the business banking options for small biz were better. I have my business checking, merchant processing, credit cards all with Chase, not to mention my home mortgage. I have shopped some competitors, and they don't offer the breadth of services that Chase can offer. Kinda sucks.

So in other words that competition/capitalism thing isn't providing the consumers a good and efficient value?

zzzing.

And love the credit union. They are closest thing to what we used to think of as a bank. We've done our mortgages, refis, and occassional car loan thru them -even when the rates were slightly better elsewhere. I've taken a pass on their 0.4% CDs though. Surely they don't make money on my meager free checking/savings - though that 3-5 day float they get when we pay a bill online might be helping the CU profit more than I think.