Media Still Clueless As JP Morgan Losses Grow To $5 Billion

Oct 2010
22,674
5,689
In the empty heads of the right wingers I own
#22
What you seem to not get is this was an illegal practice by JP Morgan. There are rules on the books. They broke the rules. This puts your under regulation argument to bed.
Not really. Ever since your hero's party started breaking down the New Deal, with the help of conservative Democrats, going back to at least Reagan, regulation has not been enough to keep up with the new financial instruments. Regulatory agencies have been understaffed (particularly since the 1994 disaster known as the Contract Against America and Newt becoming Speaker), penalties have not kept up with the times, and even with Dodd-Frank, there are still gaping holes because conservatives of both parties have not addressed some of the newer financial instruments. A return to Glass-Steagall, with updates, would be a start. ronpaul voted for Gramm-Leech-Bliley. ronpaul has called for Dodd-Frank to be repealed. He's not against these sorts of trades, if his voting record is the guage.
 
Oct 2010
22,674
5,689
In the empty heads of the right wingers I own
#23
I see. I am right but it is...what do you children call it, kookery...that's not even a word..and I am supposed to listen to idiots that have no clue.
You post links to idiots who have no clue. You're deluded by conspiracy theorists.

and no, you're not right about much. Although, I've detected a bit of some Keynesian answers to some problems in another thread about Iceland from you. Maybe there is hope that logic can penetrate that melon atop your shoulders.
 
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Oct 2010
22,674
5,689
In the empty heads of the right wingers I own
#24
Hey Shanty, show me the alleged "kookery".
90% of what ronpaul says is kookery, because it doesn't have a basis in reality. Austrian School economics is all about applying an ideological answer to reality, then watching the results crash and burn in a flaming wreckage and calling it a success.
 

michaelr

Former Staff
Dec 2006
89,668
6,642
FEMA Region 10
#25
You post links to idiots who have no clue. You're deluded by conspiracy theorists.
I see. JP's losses are at $7 trillion and growing, their CDS bet failed. These thinges are true and they happened, yet linking to it before the media said it makes me a conspiracy theorist and wrong....even though it happened and I am right.

Must be wierd....that shit that runs through your mind.
 
Oct 2010
22,674
5,689
In the empty heads of the right wingers I own
#29
All I know is we need a Teddy Roosevelt today more then ever.

Bust the trusts and regulate every aspect of Commerce.
FDR was even more effective. Get people back to work and enact reforms. The next 5 decades after he started are a testament to his willingness to experiment.
 

michaelr

Former Staff
Dec 2006
89,668
6,642
FEMA Region 10
#30
Could JP Morgan be sued by Stockholders for Creative Mortgage Putback Accounting?

I was on Max Keiser’s show yesterday talking about JP Morgan’s triple-digit billion mortgage repurchase litigation problem that they refuse to accurately reflect on their financial statements. A problem that is now compounded by the fact their regulator, the SEC, has told them they want to sue Jamie Dimon’s bank for securities violations or bring an enforcement action against them, which could validate some of the RMBS fraud claims in the eyes of New York judges overseeing the $120 billion in litigation. What I didn’t realize was how much of a blatant accounting cover up this mortgage repurchase issue is –one that some analysts think could led to a massive accounting fraud suit against JP Morgan and their auditor PricewatershouseCoopers.
If people don't start going to prison then this shit isn't going to stop. That is as simple as that!

I love what they call it....a buy back...hell they sold these things twice. Call me old fashion, but if i sell a home 2 times, that's called fraud.