JP Morgan Chase Smith Barney whatsis

[Freed Roger]

IPOs are scam, but not as ridiculous as they were in dot.com era.

[pioneer98]

Bump.

Dimon testified in front of Congress today. I guess the thing you say after you lose $2 billion is "Sorry."

http://finance.yahoo.com/blogs/breakout ... 49762.html

[sighyoung]

Bump.

Dimon testified in front of Congress today. I guess the thing you say after you lose $2 billion is "Sorry."

http://finance.yahoo.com/blogs/breakout ... 49762.html

John Galt never said, "Oopsies." He'd fart and tell you that it's the sweet zephyr of capitalism blowing down the prairies of risk, and then go build a building or something passionate and genius-like. And then Patricia Neal would get bedroom eyes, and let Gary Cooper crinkle her like Christmas wrapping paper.

[Hungary Jack]

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[Freed Roger]

Bump.

Dimon testified in front of Congress today. I guess the thing you say after you lose $2 billion is "Sorry."

http://finance.yahoo.com/blogs/breakout ... 49762.html

John Galt never said, "Oopsies." He'd fart and tell you that it's the sweet zephyr of capitalism blowing down the prairies of risk, and then go build a building or something passionate and genius-like. And then Patricia Neal would get bedroom eyes, and let Gary Cooper crinkle her like Christmas wrapping paper.

that is the best.

[pioneer98]

Hey, America - wake up! Wall Street is screwing you.

Well, this is from Rolling Stone, so I'm sure it's safe to ignore. Never mind - false alarm. Go back to Twitter.

The Scam Wall Street Learned From the Mafia

By conspiring to lower the interest rates that towns earn on these investments, the banks systematically stole from schools, hospitals, libraries and nursing homes – from "virtually every state, district and territory in the United States," according to one settlement. And they did it so cleverly that the victims never even knew they were being ­cheated. No thumbs were broken, and nobody ended up in a landfill in New Jersey, but money disappeared, lots and lots of it, and its manner of disappearance had a familiar name: organized crime.

[AdmiralKird]

The interest rates are that low to spur housing development. That's not the scam, the 'scam' is the funneling of money to influence voters to keep low tax rates for the rich and prevent consumers from having more income to reset the national savings rate and increase the population of borrowers. But the voters get to choose to keep those rates low in the end so I'm not sure its a scam as it is immoral.

[longhornbaseball]

The interest rates are that low to spur housing development. That's not the scam, the 'scam' is the funneling of money to influence voters to keep low tax rates for the rich and prevent consumers from having more income to reset the national savings rate and increase the population of borrowers. But the voters get to choose to keep those rates low in the end so I'm not sure its a scam as it is immoral.

Did you read the article? It wasn't about the Fed keeping rates at zero. It was about a concerted effort by major banks to rig the interest rate bids municipalities received on guaranteed investment contracts, thus leaving the taxpayers with billions of dollars in opportunity cost. It is a perfect illustration that "free" markets often do not result in competitive markets, which are utility maximizing for consumers. Free markets often lead to oligopoly (or even monopoly) that enrich the lives of the people fortunate enough to be involved with the oligopolists, but also [expletive] the rest of us by distorting the price discovery mechanism.

[Hungary Jack]

I watched "Too Big to Fail" last night on free PPV. I actually enjoyed it, and thought it was pretty realistic. William Hurt made a convincing Hank Paulson.

But the guy who played Jaime Dimon wasn't pompous-looking enough.

[AdmiralKird]

Did you read the article?

Articles are meant to be taken off, not read.