"What is this crap? Isn't it bad enough we are screwed by politicians and "watchdog" organizations in Congress that came right out of Lehman, Goldman Sux, and JPMoney?" Several studies state that bankers have no morals and that they love only themselves. Playgirlie Press
Your right, JPM just gets free money from the goverment at o% interest to lend out, but they invest it themselfs and make 15 %.Then short a stock, run it in the ground using CNBC,then buy the stock back when it bottoms,and run it back up. That's a pretty nice scam. I wonder if Madoff is Diamonds finicial advisor. Boys if were going to make money in this market, we have to follow the crooks,buy and sell as they do.Just don't short Silver, unless you want to get burned.
1. JPM didn't need or get a bailout. 2. You must be confused. JPM doesn't keep a treasure trove of pork bellies in a freezer seven floors below Chase Manhattan Plaza. 3. JPM does NOT "Naked" short silver. JPM does hedge their long position and at times is "net" short, but not by those mythical huge numbers. 4. Take a Xanax for crissakes.
So JPM "didn't need or get a government bailout"? Well maybe you missed this story from the NY Times on March 18, 2008. Here's the highlights:
"Over the weekend, the Federal Reserve bailed out JPMorgan Chase.
No, that is not a typo. On Monday, JPMorgan’s stock closed up 10 percent in a down market, increasing the bank’s market capitalization by more than $12 billion. Even assuming that JPMorgan ultimately has to pay more for Bear than its $2-per-share-offer — a big assumption — the market’s initial view is that this takeover of an imploding Wall Street firm was a wealth transfer to JPMorgan’s shareholders of this amount.
Where did this transfer come from? Well, it came from the Federal Reserve and from Bear.
The Federal Reserve has guaranteed Bear’s liabilities to the tune of $30 billion. And some are reporting that the Fed pushed through this deal over the weekend to prevent Bear from completely defaulting on its obligations leaving the government holding the bag, and Bear in bankruptcy."
So there ya go. Now you understand why some get a wee bit peeved when JPM is reported to be engaging in market mischief.
Maybe YOU should be taking a pill -- a reality pill.