General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsJoe Scum is defending JP Morgan this morning because they have so much money
These fuggers are crazy.
monmouth
(21,078 posts)malaise
(269,254 posts)from his prep school days
kentuck
(111,110 posts)...then who is he going to blame?
We have not see the end of this loss by JP Morgan. This is only the beginning. The stock market has not yet felt the full impact.
The government had a chance to clean up the mess but they didn't. I fear we will now see the same story, Act II...
limpyhobbler
(8,244 posts)See now that's the real tragedy here. What is it going to take.
kentuck
(111,110 posts)Is that possible?
limpyhobbler
(8,244 posts)I really don't understand the specifics of this JP Morgan issue yet, but I've heard this repeatedly from economists and analysts that the essential problem of "to big to fail" has not been addressed. The gov't bailed out the banks but the structural issues leading up to the collapse have not been addressed. So I guess that was the thing the gov't had a chance to address, in some way or another, to take steps to either prevent a collapse, or contain the damage from a collapse. But instead they didn't.
I'm far from an expert but I think these banking crises have way to much influence over people's lives for no reason. It's a shame that the gov't has not taken some more serious steps to regulate or break up or take over some parts of these banks.
butterfly77
(17,609 posts)CRAZY! Scar wants to dictate how the Democrats and the President campaigns. Scar wants to set the rules they can do it but we can't. Does he remember swiftboaters.
Do you know if this was one of the PACS who did the commerical about the workers who lost their jobs because of Bain Capital?
malaise
(269,254 posts)Remember it'sOK if you're a ReTHUG
Skidmore
(37,364 posts)the idea that Dimon should run for president. Was touting Dimon as some economic genius with supernatural powers. Funny how Joey always picks lead balloons to release. He pushed Christie for a while and some other pol who had to resign in disgrace (sorry, name not coming to mind right now).
kentuck
(111,110 posts)This news was probably known before it was broken for the weekend? Just my guess.
Also, I would not be surprised if it was somehow connected to the Euro and the Greek government elections?
Also, when a bad story like this is broken, you can bet there is more to come...