advertisement
Forums

 

AAPL stock: Click Here

You are currently viewing the 'Friendly' Political Ranting forum
And life goes on - JP Morgan
Posted by: RgrF
Date: May 11, 2012 05:52AM
Quote
J.P. Morgan late Thursday disclosed that it had suffered at least $2 billion in losses stemming from soured bets made by its chief investment office. The New York-based unit has a large presence in London, where more than a dozen traders place wagers using the bank's own funds. Last month, The Wall Street Journal and other news organizations reported that one of the office's traders, nicknamed "the London whale," was roiling parts of the debt markets with his large bets.

WSJ - may be blocked

Google "J.P. Morgan Holding Talks With U.K. Regulators" for the story
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: cbelt3
Date: May 11, 2012 06:39AM
What IS it with the UK 'rogue bankers' ? Another "rogue trader" damn near took UBS DOWN... $2.3B losses so far.

The Gentlemen in London appear to have a rather lax environment.
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: Lux Interior
Date: May 11, 2012 06:50AM
The first "Rogue Trader" was French.

At least the first one I heard of.
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: cbelt3
Date: May 11, 2012 10:33AM
Mais Oui. At least in THIS last runaround of knuckleheads.

All of them are, of course, sacrificial goats that were thrown out to hide a culture of high stakes gambling that was endemic in all the affected banks.

Gambling with other people's money... That's how you win !
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: lafinfil
Date: May 11, 2012 11:17AM
J.P. Morgan as in J.P. Morgan headed by Jamie "Banks Don't Need No Regulation" Dimon ?

That J.P. Morgan ?



Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: rjmacs
Date: May 11, 2012 11:22AM
Quote
cbelt3
Mais Oui. At least in THIS last runaround of knuckleheads.

All of them are, of course, sacrificial goats that were thrown out to hide a culture of high stakes gambling that was endemic in all the affected banks.

Gambling with other people's money... That's how you win !

I suppose one solution would be for investors to stop entrusting their money to nincompoops.



rj
AKA
Vreemac, Moth of the Future
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: Lemon Drop
Date: May 11, 2012 11:51AM
Quote
lafinfil
J.P. Morgan as in J.P. Morgan headed by Jamie "Banks Don't Need No Regulation" Dimon ?

That J.P. Morgan ?

Yes. What could possibly go wrong?
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: Gutenberg
Date: May 11, 2012 12:36PM
Banks could get re-regulated. That could go wrong.
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: rjmacs
Date: May 11, 2012 12:48PM
Quote
Gutenberg
Banks could get re-regulated. That could go wrong.

Yeah. Bank over-regulation has caused economic catastrophe after catastrophe in recent years. drink smiley



rj
AKA
Vreemac, Moth of the Future
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: Gutenberg
Date: May 11, 2012 12:53PM
That was ironic, rj. If you look at it from Mr. Dimon's point of view, bank re-regulation could go wrong.

Edit: to clarify. Bank re-regulation, from the regular Joe's point of view, is an excellent idea.



Edited 1 time(s). Last edit at 05/11/2012 12:54PM by Gutenberg.
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: rjmacs
Date: May 11, 2012 01:13PM
Quote
Gutenberg
That was ironic, rj. If you look at it from Mr. Dimon's point of view, bank re-regulation could go wrong.

Edit: to clarify. Bank re-regulation, from the regular Joe's point of view, is an excellent idea.

I hear ya.

Although if i can be pet-peevey for a moment, that's not what "ironic" means. (I've pointed this out elsewhere recently.) It was facetious, not ironic. Ironic would be Mr. Dimon saying that regular Joes (and, we presume, Jills) should embrace bank de-regulation because it makes the economy more stable and productive (because, in fact, bank de-regulation does exactly the opposite of that).

And you're completely right - bank regulation, from the point of view of the people whose money is banked, is a great idea. Also, from the perspective of anyone whose livelihood depends on that money being available later on.....which, in a consumer economy, is pretty much everyone *except* investment bankers.



rj
AKA
Vreemac, Moth of the Future
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: Gutenberg
Date: May 11, 2012 05:00PM
OK, you win. May we move on? Thank you.
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: lafinfil
Date: May 11, 2012 05:51PM
Bloomberg says 2 Billion is just the start. Could be 5 Billion or more before they unwind this thing.



Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: Gutenberg
Date: May 11, 2012 07:25PM
I think what we need to do is reform both the insurance and the banking industries. No one should be able to profit--legally, at least--from malfeasance. What many hedge funds do is pay off a bet against the company. That is just not right.
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: Seacrest
Date: May 11, 2012 08:22PM
Two words: Glass. Steagall.





I am not Ryan Seacrest, and I do not approve this message.
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: Black
Date: May 12, 2012 10:28AM
Quote
rjmacs
Quote
Gutenberg
That was ironic, rj. If you look at it from Mr. Dimon's point of view, bank re-regulation could go wrong.

Edit: to clarify. Bank re-regulation, from the regular Joe's point of view, is an excellent idea.

I hear ya.

Although if i can be pet-peevey for a moment, that's not what "ironic" means. (I've pointed this out elsewhere recently.) It was facetious, not ironic. Ironic would be Mr. Dimon saying that regular Joes (and, we presume, Jills) should embrace bank de-regulation because it makes the economy more stable and productive (because, in fact, bank de-regulation does exactly the opposite of that).

And you're completely right - bank regulation, from the point of view of the people whose money is banked, is a great idea. Also, from the perspective of anyone whose livelihood depends on that money being available later on.....which, in a consumer economy, is pretty much everyone *except* investment bankers.

Thanks. Especially drives me nuts when people call irony or facetiousness "sarcasm." Can you take that one on too?




New forum user map 8/2015: [www.zeemaps.com]
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: rjmacs
Date: May 12, 2012 12:24PM
Quote
Black
Quote
rjmacs
Quote
Gutenberg
That was ironic, rj. If you look at it from Mr. Dimon's point of view, bank re-regulation could go wrong.

Edit: to clarify. Bank re-regulation, from the regular Joe's point of view, is an excellent idea.

I hear ya.

Although if i can be pet-peevey for a moment, that's not what "ironic" means. (I've pointed this out elsewhere recently.) It was facetious, not ironic. Ironic would be Mr. Dimon saying that regular Joes (and, we presume, Jills) should embrace bank de-regulation because it makes the economy more stable and productive (because, in fact, bank de-regulation does exactly the opposite of that).

And you're completely right - bank regulation, from the point of view of the people whose money is banked, is a great idea. Also, from the perspective of anyone whose livelihood depends on that money being available later on.....which, in a consumer economy, is pretty much everyone *except* investment bankers.

Thanks. Especially drives me nuts when people call irony or facetiousness "sarcasm." Can you take that one on too?

In forums, particularly. Sarcasm is fundamentally dependent on tone, which is nearly impossible to convey clearly in online postings. It takes incredibly skill as a writer to capture sarcasm, and most authors still use 'cheats' to indicate its appearance (usually in dialogue).

So, here's a word to the wise: if you're posting something in a forum that is clearly 'sarcasm' to your mind's ear, consider rewriting it. Your tone is opaque to everyone else. Try hyperbolic insincerity instead! smiling smiley



rj
AKA
Vreemac, Moth of the Future




Edited 1 time(s). Last edit at 05/12/2012 12:25PM by rjmacs.
Options:  Reply • Quote
Re: And life goes on - JP Morgan
Posted by: Gutenberg
Date: May 12, 2012 02:37PM
OK, sugar. Since you have decided to continue this:

1. What I posted above is commonly accepted as "ironic comment" these days. "Ironic comment," commonly, these days, is just about any statement that is intended to mean the opposite.

2. Any reasonable person who has read my posts on this forum would know that my statement was a riposte to Grace's comment, and meant exactly its opposite.

3. Look up "belabor," or perhaps "beating dead horse." Then stop doing it.
Options:  Reply • Quote
Sorry, only registered users may post in this forum.

Click here to login

Online Users

Guests: 111
Record Number of Users: 186 on February 20, 2020
Record Number of Guests: 2330 on October 25, 2018