JPM Crashing ???

BigJim · 05-10-2012, 05:35 PM

From Zerohedge:
http://www.zerohedge.com/news/jpm-cr...-market-losses

GOD BLESS OUR TROOPS!!!

rblong2us · 05-10-2012, 05:41 PM

yeah been following this little show
kinda feels good but could be the start of something very bad

always got to allow for zerohedge making things seem a bit more dramatic than they need to though

BigJim · 05-10-2012, 05:53 PM

More Info:
http://www.cnbc.com/id/47377555

GOD BLESS OUR TROOPS!!!

escobar · 05-10-2012, 06:36 PM

These banks really make me sick. They are like blackjack junkies. They bet balls to the wall and when it works out they get paid a ton when it doesnt they just get bailed out, can't let the financial system fail etc. craziest legalized racket there is.

**PMBug** · 05-10-2012, 07:43 PM

Originally Posted by BigJim

:

More Info:
http://www.cnbc.com/id/47377555

Quote :

...
"Just because we're stupid doesn't mean everybody else was," Dimon added. Investigation into trade was started by a Wall Street Journal report, Dimon said, which led to his admitting the mistake "violated the Dimon rule."

Bloomberg News reported in April that a single JPMorgan trader in London, known in the bond market as "the London whale," was making such large trades that he was moving prices in the $10 trillion market.
...

Yeah, JPM never manipulates markets. Tin foil hat suckers.

Jetstream · 05-10-2012, 11:45 PM

Originally Posted by rblong2us

:

yeah been following this little show
kinda feels good but could be the start of something very bad

always got to allow for zerohedge making things seem a bit more dramatic than they need to though

Frankly, I am getting less enamoured with ZH by the week. Still drop by, but there are very few comments worth reading below the opinion articles.

Shelby-villian · 05-11-2012, 03:26 AM

Good time to buy some silver? Hit them while their down?

**PMBug** · 05-11-2012, 05:47 AM

If my tracking of Apmex physical inventories is any indication, it would appear that people are BTFD.

**benjamen** · 05-11-2012, 07:05 AM

Local news channel today said something about JPM losing 2 billion dollars over the past 6-8 weeks, but I didn't catch the whole story.

Should be interesting!

**PMBug** · 05-11-2012, 07:05 AM

I wonder if the upcoming ISDA rule change meeting has something to do with JPM distress.

**PMBug** · 05-11-2012, 07:07 AM

lol...

Keiser Report: I Steal, Therefore I Am (E286) - YouTube

ancona · 05-11-2012, 07:08 AM

I just read that the losses for JPM prop desk are something like 4 billion instead of the reported 2 billion. So, if these monkeys have a couple of trillion dollars worth of market presence, isn't a few billion dollars just a bit of chump change?

<sarc>

bushi · 05-11-2012, 09:02 AM

ancona - well of course, couple of billions that way or another - that is apparently the way they think - honestly, why shouldn't they, if instead of see some heads rolling, Uncle Sam is always to the rescue, when things go wrong.

PMBug, I've seen that piece about "Jamie Dimon tapeworm" - I must admit, Max Kaiser is sometimes over the top in how he reports that whole financial cesspit (though he is always right with regards of what he is saying), but that one was h.i.l.a.r.i.o.u.s

Obviously, I do believe that all of this will end badly, and it has to start with something "too big to bail"* - so I am awaiting the inevitable with mixed emotions - I do know it is needed to flush all that scum out of the system, and even rebuild the system itself - but it ain't going to happen, without some EXTREME disturbances, both politically, socially, and economically. You just DON'T change systems of that size, complexity, and powerful connections, unless you are absolutely FORCED to do that by the "higher need" circumstances.

Is it a beginning of the end - no... it has begun in 2006, if not in 1989 (when Russian empire went under - first and foremost, financially). It is just another stage in the final act, I suppose...

* "too big to bail", used with regards to our Her Majesty Financial Institutions, I thereby claim copyrights

Please use it as often as you wish, together with that license/disclaimer, and send some money my way every time you do so

ancona · 05-11-2012, 09:07 AM

Too big to bail is the lynchpin in the system which if pulled, collapses the whole fucking thing. We had all better be careful what we wish for here. These monstrosities need to be carefully and slowly dismantled and made to be a much smaller size. Failure of a Goldman or JP Morgan sized firm would burn down the entire financial complex in less than a fortnight.

bushi · 05-11-2012, 10:00 AM

...I am fully aware, ancona... That is why I have mixed emotions, but on the other hand, I do not think there really is another way than a shock therapy, not with all the connections, power, and the amounts of speculations in a totally abstract bets, that are at play here.

There will be a hell to pay for everybody - and especially, for have-nots, I suppose. I just can't see it working out another way. I wish I was wrong, though, and that there would be some moderately painful way of dismantling that cesspit, instead of extremely painful one.

ancona · 05-11-2012, 10:23 AM

Yeah, the descent in to hell will be long and painful, even for folks that have prepareed themselves.

bushi · 05-11-2012, 10:43 AM

...another media piece on that - questioning if yesterday's JPM's release is just the tip of the iceberg, and "ahead damage control" technique

http://www.bloomberg.com/video/92465009/

BigJim · 05-11-2012, 10:43 AM

DOW,S&P,Nasdaq,ALL UP!!!
Metals Down...
Move along now....Huge JPM losses mean nothing...

GOD BLESS OUR TROOPS!!!

**PMBug** · 05-11-2012, 11:03 AM

Must be all those green shoots.

**benjamen** · 05-14-2012, 02:07 PM

http://finance.yahoo.com/blogs/daily...165144546.html

Let me get this straight, it should be illegal for companies to take risks and make a losing bet?!

a) If a company goes bankrupt, DO NOT bail it out! This only encourages risk taking behavior!

b) For all of those that would complain about the little guy's that get hurt because thier bank went under, shouldn't it be thier responsibility to make sure the company they had thier life savings to is solvent?

This would be like giving all of your money to an investment company that picks the wrong stock and you lose all your money. Instead of taking personal responsibility for picking a bad investment firm, you tell the governement to give that investment firm billions of dollars so you can get your money back?

05-10-2012, 05:35 PM	#1
BigJim Predaceous stink bug Join Date: Apr 2012 Posts: 187 Liked: 131 times	JPM Crashing ??? From Zerohedge: http://www.zerohedge.com/news/jpm-cr...-market-losses GOD BLESS OUR TROOPS!!!

05-10-2012, 05:41 PM	#2
rblong2us Yellow Jacket Join Date: Nov 2011 Location: off world Posts: 1,966 Liked: 871 times	yeah been following this little show kinda feels good but could be the start of something very bad always got to allow for zerohedge making things seem a bit more dramatic than they need to though __________________ if it cant be done with a digger .... it cant be done

05-11-2012, 05:47 AM	#8
PMBug Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault Posts: 7,017 Liked: 2444 times	If my tracking of Apmex physical inventories is any indication, it would appear that people are BTFD. __________________ The journey of a thousand miles begins with a single step. - Lao Tzu Important stuff: PMBug 101 * Forum Guidelines * Support PMBug

05-11-2012, 07:05 AM	#9
benjamen Super Moderator Join Date: Mar 2012 Location: Migratory Posts: 1,620 Liked: 685 times	Local news channel today said something about JPM losing 2 billion dollars over the past 6-8 weeks, but I didn't catch the whole story. Should be interesting! __________________ I drive men mad For love of me, Easily beaten, Never free. PMBug 101 * Forum Rules**

05-11-2012, 07:05 AM	#10
PMBug Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault Posts: 7,017 Liked: 2444 times	I wonder if the upcoming ISDA rule change meeting has something to do with JPM distress. __________________ The journey of a thousand miles begins with a single step. - Lao Tzu Important stuff: PMBug 101 * Forum Guidelines * Support PMBug

05-10-2012, 05:53 PM	#3
BigJim Predaceous stink bug Join Date: Apr 2012 Posts: 187 Liked: 131 times	More Info: http://www.cnbc.com/id/47377555 GOD BLESS OUR TROOPS!!!

05-10-2012, 06:36 PM	#4
escobar Predaceous stink bug Join Date: Nov 2011 Posts: 154 Liked: 54 times	These banks really make me sick. They are like blackjack junkies. They bet balls to the wall and when it works out they get paid a ton when it doesnt they just get bailed out, can't let the financial system fail etc. craziest legalized racket there is.

05-11-2012, 03:26 AM	#7
Shelby-villian Predaceous stink bug Join Date: Nov 2011 Posts: 146 Liked: 78 times	Good time to buy some silver? Hit them while their down?

05-11-2012, 07:08 AM	#12
ancona Yellow Jacket Join Date: Nov 2011 Location: Waaay south Posts: 3,370 Liked: 2046 times	I just read that the losses for JPM prop desk are something like 4 billion instead of the reported 2 billion. So, if these monkeys have a couple of trillion dollars worth of market presence, isn't a few billion dollars just a bit of chump change? <sarc> __________________ All things being equal, the simplest answer is quite often the correct answer - Occam Last edited by ancona; 05-11-2012 at 09:05 AM.

05-11-2012, 09:02 AM	#13
bushi Ground Beetle Join Date: Nov 2011 Posts: 971 Liked: 554 times	ancona - well of course, couple of billions that way or another - that is apparently the way they think - honestly, why shouldn't they, if instead of see some heads rolling, Uncle Sam is always to the rescue, when things go wrong. PMBug, I've seen that piece about "Jamie Dimon tapeworm" - I must admit, Max Kaiser is sometimes over the top in how he reports that whole financial cesspit (though he is always right with regards of what he is saying), but that one was h.i.l.a.r.i.o.u.s Obviously, I do believe that all of this will end badly, and it has to start with something "too big to bail"* - so I am awaiting the inevitable with mixed emotions - I do know it is needed to flush all that scum out of the system, and even rebuild the system itself - but it ain't going to happen, without some EXTREME disturbances, both politically, socially, and economically. You just DON'T change systems of that size, complexity, and powerful connections, unless you are absolutely FORCED to do that by the "higher need" circumstances. Is it a beginning of the end - no... it has begun in 2006, if not in 1989 (when Russian empire went under - first and foremost, financially). It is just another stage in the final act, I suppose... * "too big to bail", used with regards to our Her Majesty Financial Institutions, I thereby claim copyrights Please use it as often as you wish, together with that license/disclaimer, and send some money my way every time you do so

05-11-2012, 09:07 AM	#14
ancona Yellow Jacket Join Date: Nov 2011 Location: Waaay south Posts: 3,370 Liked: 2046 times	Too big to bail is the lynchpin in the system which if pulled, collapses the whole fucking thing. We had all better be careful what we wish for here. These monstrosities need to be carefully and slowly dismantled and made to be a much smaller size. Failure of a Goldman or JP Morgan sized firm would burn down the entire financial complex in less than a fortnight. bushi likes this. __________________ All things being equal, the simplest answer is quite often the correct answer - Occam

05-11-2012, 10:00 AM	#15
bushi Ground Beetle Join Date: Nov 2011 Posts: 971 Liked: 554 times	...I am fully aware, ancona... That is why I have mixed emotions, but on the other hand, I do not think there really is another way than a shock therapy, not with all the connections, power, and the amounts of speculations in a totally abstract bets, that are at play here. There will be a hell to pay for everybody - and especially, for have-nots, I suppose. I just can't see it working out another way. I wish I was wrong, though, and that there would be some moderately painful way of dismantling that cesspit, instead of extremely painful one.

05-11-2012, 10:23 AM	#16
ancona Yellow Jacket Join Date: Nov 2011 Location: Waaay south Posts: 3,370 Liked: 2046 times	Yeah, the descent in to hell will be long and painful, even for folks that have prepareed themselves. __________________ All things being equal, the simplest answer is quite often the correct answer - Occam

05-11-2012, 10:43 AM	#17
bushi Ground Beetle Join Date: Nov 2011 Posts: 971 Liked: 554 times	...another media piece on that - questioning if yesterday's JPM's release is just the tip of the iceberg, and "ahead damage control" technique http://www.bloomberg.com/video/92465009/

05-11-2012, 11:03 AM	#19
PMBug Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault Posts: 7,017 Liked: 2444 times	Must be all those green shoots. BigJim likes this. __________________ The journey of a thousand miles begins with a single step. - Lao Tzu Important stuff: PMBug 101 * Forum Guidelines * Support PMBug

05-14-2012, 02:07 PM	#20
benjamen Super Moderator Join Date: Mar 2012 Location: Migratory Posts: 1,620 Liked: 685 times	http://finance.yahoo.com/blogs/daily...165144546.html Let me get this straight, it should be illegal for companies to take risks and make a losing bet?! a) If a company goes bankrupt, DO NOT bail it out! This only encourages risk taking behavior! b) For all of those that would complain about the little guy's that get hurt because thier bank went under, shouldn't it be thier responsibility to make sure the company they had thier life savings to is solvent? This would be like giving all of your money to an investment company that picks the wrong stock and you lose all your money. Instead of taking personal responsibility for picking a bad investment firm, you tell the governement to give that investment firm billions of dollars so you can get your money back? __________________ I drive men mad For love of me, Easily beaten, Never free. PMBug 101 * Forum Rules**