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alstry (35.70)

J.P. Morgan's Profit Is America's Loss

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April 14, 2010 – Comments (3)

JPMorgan Chase earns $3.3B in Q1 on strong trading

No longer are banks making money banking....that is because many of their customers are shutting down and/or going bankrupt and lending is a money losing proposition .  Banks financial statements are probably not much more than outright fraud.

http://market-ticker.denninger.net/archives/2193-IRA-Does-It-Again-See,-Again-I-Told-You-So.html

So now banks must make "money" trading as banking is a money losing proposition.....and the joke is we are providing those banks with a pile of essentially unlimited free money to fund trading....instead of providing that money to the taxpayers to pay off the banks.

And guess who they are trading against?????  That is right, the managers of your pension/retirement/and investment accounts.........as they continue to infect you with more and more toxic debt.

Heads I win....tails you lose........and it looks like America is on the tail end of this one as the nation  continues shutting down.

3 Comments – Post Your Own

#1) On April 14, 2010 at 8:25 AM, alstry (35.70) wrote:

INTERESTING.....

Practically every city, county and state facing a financial crisis.......yet we  are giving banks unlimited free money to trade against our retirement accounts.

NEW YORK (AP) -- Wall Street is hiring again.

Among those in demand: traders of exotic financial investments such as derivatives, and risk managers whose job it is to keep companies from repeating the reckless bets that imploded and nearly toppled the financial system 18 months ago.

 

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#2) On April 14, 2010 at 8:40 AM, alstry (35.70) wrote:

More Spam....

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#3) On April 14, 2010 at 9:15 AM, XMFSinchiruna (28.57) wrote:

Although I've resisted multiple temptations to comment on your blogs ever since that regrettable exchange many moons ago, I have recced each of your last two posts.

When truth is in short supply, it must be recognized where it exists. I believe there is truth in each of your last two posts, and indeed that there are elements of truth in many of your posts. I don't share your methodology, but often there is significant overlap between our views.

Fool on.

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