Max talks to author, Josh Rosner, about his explosive new piece, “JP Morgan Chase: Out of Control.” They discuss the London Whale as a systemic & sticking the taxpayer with JP Morgan’s bad Washington Mutual debts.
|
||||||
    |
As powerful as it may be, the Fed is not the market. And since the Fed failed to restore trust in the system by forcing all bad debts to light, the financial world has grown increasingly volatile and broken as investors grow increasingly distrustful of the system and begin to pull their money from it: see market volumes continuing to plunge. Nowhere is the lack of trust more apparent than in [...] By John R. Taylor, Jr. Chief Investment Officer FX Concepts Lehman 2.0 Global investors either have extremely short memories or they are far too concrete, as my wife the psychologist would say. Saying that Greece is not a bank but a country means nothing. Almost all Europeans argue that a default by the Greek government would now be more straightforward and not as significant as the collapse and bankruptcy of Lehman Brothers [...] 35. In and around 2004, JPMC’s then-Chief Operating Of?cer, James Dimon, resolved to improve JPMC’s lack of market presence on the West Coast and in the south. I agree with Michael Hudson about 90% of the time. He exposes the attacks against us as good as anyone. Here he is on Democracy Now summing up the latest escalation in the economic war against 99% of America: MICHAEL HUDSON: …The first story, really, was two weeks ago when Sheila Bair finished her five-year term at the Federal Deposit Insurance Corporation. And now that she left, she was able [...] by Nomi Prins Pocket-Change SEC Fines: Barely a Bark and No Bite There’s a reason yesterday’s announcement that JPM Chase would ‘settle’ for a fine of $156.3 million, while neither admitting nor denying any wrong-doing, thereby forking over the whopping equivalent of a normal person’s weekly grocery budget, pisses people off. Because it’s a marginal fleabite on the teflon hand of the nation’s second largest bank in [...] by cxl9 I had a discussion with my Chase “personal banker” on Monday, although I have not (yet?) closed my accounts in advance of the 2/8/2011 deadline. It went approximately thus: cxl9 [calm, polite]: I have a question about this notice I received in the mail. Chase: Yes? cxl9: It indicates that there will be a $10/month fee on my checking account beginning Feb. 8th… Chase: Yes, but you can avoid the service [...] by zh Hopefully as they dig into these cases the rest of the fraud will start to unravel as well. Our economy will not recover if these crooks go unpunished. TBTF my arse. Mortgage Foreclosure Investigations and Litigation. State and federal officials have announced investigations into the procedures followed by mortgage servicing companies and banks, including JPMorgan Chase & Co. and its affiliates, relating to foreclosures. [...] by ACV PMorgan Chase bought the ailing Washington Mutual for less than $2 billion — now it wants the FDIC to give it triple that amount for the lawsuit claims related to Washington Mutual’s failure. Bankers eat the profit, we eat the loss. JPMorgan committed corporate fraud??? http://www.kccllc.net/documents/0812229/0812229090501000000000002.pdf Anyone who thinks we can spend or buy our way out of this is crazy. This is about the time markets should reset not try and continue to be the same way they were. The only folks who will come out ahead in this are those who already have money. They will snap up all those foreclosed houses for pennies on the dollar and then make a 100,000 grand on [...] by Miss-Behaving Fannie and Freddie do not make loans. They purchase mortgage loans and earn fees for guaranteeing payments on the loans. According to the Mortgage Bankers Association, in 2006, Fannie and Freddie accounted for 33% of total mortgage backed securities issuance. In the first half of 2010, they accounted for around 64% of new issuance. They were forced to pick up the slack and buy more when Wall [...] The subpoenas, issued on Monday by the Federal Housing Finance Agency, which oversees the government-backed mortgage titans, could lead the government to recoup some of the billions of dollars that Fannie Mae and Freddie Mac lost when they scooped up mortgage-backed securities issued by Wall Street banks during the housing boom. The FHFA didn’t disclose its targets. But the top private issuers of mortgage securities included Bear Stearns Cos. and [...] I find it ironic that on the heels of the most harrowing period for financial markets since the Great Depression, politicians, regulators, investors and the American people shared a vow: never again. They promised they would change the system and change their behavior so we would never have to endure another devastating financial crisis. In one of the boldest grabs for cash ever seen in modern history, multinationals and Wall [...] |
Custom Search
|
||||
|
Copyright © 2013 InvestmentWatch - All Rights Reserved |
||||||
The 5 Myths Of The Great Financial Meltdown: Round 2
Critics of our analysis say Uncle Sam should have let the free markets take care of business. They tried. And they failed.
FORTUNE — My last column, looking at five myths and misconceptions that have emerged since the financial crisis first surfaced five years ago, clearly hit a nerve. It elicited more than 500 online comments, an unusually large response. Most commenters were critical of what I wrote, which is par for the [...]