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Author: putnid Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 449382  
Subject: Re: Why/How is JPM still a bank? Date: 11/12/2013 11:15 PM
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the website you link looks like a Mother Jones spinoff - namkato

That may very well be true. Might even look like a Rolling Stones expose. And your point is?

I kinda follow the news regarding our TBTF behemoths (to the extent my gag reflex allows). There're plenty o' skeletons in the closet.

What galls me the most is the abject reverence displayed towards Jamie Dimon, CEO of JPM. Sweet Jeebus, the burblers on CNBC practically cream their jeans fawning over the Dimon. I don't get it.

Granted, he's paid hansomely for being what many have proclaimed: that he is the "Best Banker in the World." REALLY!?! I ask again: REALLY!?!

Jamie was paid roughly $20 MILLION last year for his "wonderfulness."

Sorry, but I don't see it.

What I see is a pampered poodle who, when asked why real estate pricing models failed so miserably, responded by saying: no one figured housing prices could decline, (I'm paraphrasing, but the point is accurate).


I kinda just sat there, dumbstruck, when I heard Jamie blather. 'Scuze me but I always figgered that even that entry-level mortgage loan officer at my local S&L kinda/somehow understood that a house might depreciate in value. I'm betting my local bank cubicle-dweller actually got it...but...

Jamie didn't.

But, hey, he's the "Golden Boy" with a great head of silvered hair. Consequently, he gets paid handsomely for being...well..Jamie...the darling of Wall Street.

JPMorgan is now America's largest bank and that don't make me feel all warm and fuzzy.

Scares me, in fact.

Really scares me.
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