Too Big To Learn A Lesson: JP Morgan Assfucks Itself

[CountDeMoney]

Plus the regulators don't know shit about it.

wich is why making rules based on these people's advice is the worst possible scenario.

Which is why the SEC needs to be swept under the Department of Justice as an interdepartmental branch of the FBI.

[alfred russel]

Plus the regulators don't know shit about it.

wich is why making rules based on these people's advice is the worst possible scenario.

Which is why the SEC needs to be swept under the Department of Justice as an interdepartmental branch of the FBI.

You can sweep it whereever you want, but it will never be effective at anything with its current budget. The last I saw it was a bit under $1 billion, and a lot of its work is coming up with and revising regulations. There is no way it can police US markets worth $10s of trillions with its current size.

[MadImmortalMan]

S&P put JP Morgan on downgrade watch.


New nickname for the JPM CIO department in the financial news biz: Fail Whale 

[KRonn]

Another idiot firm, too fail to be so big!  I wonder how these massive firms get past the monopoly rules? I guess there are many firms as big so it's not a monopoly? So many still to fail....   

[Neil]

Which is why the SEC needs to be swept under the Department of Justice as an interdepartmental branch of the FBI.

I hate those steroid-abusing, recruiting-cheating bastards as much as anybody, but what does the FBI know about college football?

[Neil]

Another idiot firm, too fail to be so big!  I wonder how these massive firms get past the monopoly rules? I guess there are many firms as big so it's not a monopoly? So many still to fail....   

If a company is worth 200 billion, but the financial market is worth a hundred times that, they're probably not a monopoly.

[CountDeMoney]

Plus the regulators don't know shit about it.

wich is why making rules based on these people's advice is the worst possible scenario.

Which is why the SEC needs to be swept under the Department of Justice as an interdepartmental branch of the FBI.

You can sweep it whereever you want, but it will never be effective at anything with its current budget. The last I saw it was a bit under $1 billion, and a lot of its work is coming up with and revising regulations. There is no way it can police US markets worth $10s of trillions with its current size.

No, it has no budget, and staffing smaller than the EEOC.  It needs to be yuuuge.

[garbon]

I've gotten myself assfucked.

[CountDeMoney]

I've gotten myself assfucked.

And we know it didn't cost that much, either.  You whore.

[garbon]

I've gotten myself assfucked.

And we know it didn't cost that much, either.  You whore.

It wasn't too big for me to learn a lesson.

[CountDeMoney]

  

[KRonn]

Another idiot firm, too fail to be so big!  I wonder how these massive firms get past the monopoly rules? I guess there are many firms as big so it's not a monopoly? So many still to fail....   

If a company is worth 200 billion, but the financial market is worth a hundred times that, they're probably not a monopoly.

Well, they're still too big given the hit they make on other banks, people and the economy when they crap themselves. Too big to fail indeed. Too fail to be so big is more like it.

[MadImmortalMan]

Still, the losses on this if they happen will be nowhere big enough to cause JPM to fail. It's like 1/35 of their annual revenue.

[Jaron]

As if to make matters worse for them, I closed my account at Chase bank today.

[KRonn]

As if to make matters worse for them, I closed my account at Chase bank today.

That was probably the straw that broke the JPM camel's back!!