JP Morgan Chase loses $2 billion

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Detritus
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Re: JP Morgan Chase loses $2 billion

Postby Detritus » Mon May 14, 2012 10:20 am

snoqueen wrote:That's important, and I'm glad you posted it so I and others could read it. The idea journalism dumbs things down is hardly new, but calling it out when it happens is essential.

The Republicans in Congress? Scott Walker? I'm still not sure....

DSM-IV defines "sociopath" in part as "a pervasive pattern of disregard for, and violation of, the rights of others that begins in childhood or early adolescence and continues into adulthood."

Still unsure?

Ned Flanders
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Re: JP Morgan Chase loses $2 billion

Postby Ned Flanders » Mon May 14, 2012 11:16 am

Please, let's not forget that JP Morgan Chase CEO Jamie Dimon is a bigwig Democrat and a FOO.

I'm sure the NYT, WAPO, NBC, ABC, CNN and CBS are busy investigating! :lol:

O.J.
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Re: JP Morgan Chase loses $2 billion

Postby O.J. » Mon May 14, 2012 11:25 am

http://www.huffingtonpost.com/2012/05/1 ... 05906.html

Dimon is thinking of jumping to your side, Ned. Will you welcome him with open arms?

DCB
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Re: JP Morgan Chase loses $2 billion

Postby DCB » Mon May 14, 2012 12:05 pm

Ned Flanders wrote:Please, let's not forget that JP Morgan Chase CEO Jamie Dimon is a bigwig Democrat and a FOO.

So, you're on board with the Occupy movement?

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Re: JP Morgan Chase loses $2 billion

Postby Petro » Mon May 14, 2012 12:24 pm

O.J. wrote:http://www.huffingtonpost.com/2012/05/10/jamie-dimon-democrat_n_1505906.html

Dimon is thinking of jumping to your side, Ned. Will you welcome him with open arms?


He said the same thing on "Meet The Press" but followed it with

"I didn't support anyone last time around: I'm on the New York Fed Board; I'm not allowed to. But I am a Democrat, yes." He also criticized both parties for failing to work together. “It's true to say we haven't had true, common collaboration," he said. "To me, it’s not Democrat or Republican. What is it that works to get America growing again, so that the people can grow and get educated and have opportunity and jobs? That is not Democrat or Republican. So, any Democrat or Republican that tells me they own that, they don't. That is a practical thing. I don't blame that on the president... I wish they would all put their knives down and get back to work for the American public.”


I don't care whose politics he favors, he's a part of the problem.

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Re: JP Morgan Chase loses $2 billion

Postby Stella_Guru » Mon May 14, 2012 9:51 pm

Galoot wrote:From the little I know of derivatives, they do seem to be zero sum, though. JPMC made a bad bet on the overall economy, so I guess whoever they sold their derivatives to are the ones that made out.

Wasn't this the type of thing that was supposed to be stopped?

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Re: JP Morgan Chase loses $2 billion

Postby Comrade » Mon May 14, 2012 11:32 pm

Yes, but Dodd-Frank was horrible legislation written by people who had been in Congress way too long and had long since lost their grip on how average people live and therefore how to be effective legislators. It is a classic example of why we need term limits for Congress. We would all be better off if the role of lawmaker were only temporarily assumed by regular citizens from all walks of life who were there only for a few years before returning to their respective careers instead of one who goes there forever and rules over us and exempts themselves from what we are subject to.

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Re: JP Morgan Chase loses $2 billion

Postby rabble » Tue May 15, 2012 8:06 am

Comrade wrote: We would all be better off if the role of lawmaker were only temporarily assumed by regular citizens from all walks of life who were there only for a few years before returning to their respective careers instead of one who goes there forever and rules over us and exempts themselves from what we are subject to.

By the strangest of coincidences, the people who say that are often the same ones who say Obama isn't qualified because he isn't experienced enough.

I'm sure, in our current state of affairs, the corporations would just love to have a batch of off-the-rack citizens in Congress. They'd lick their chops.

It was a great idea back when the deep pockets didn't run the entire show. They do now. They've had free rein since Bush took office and they're dug in.

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Re: JP Morgan Chase loses $2 billion

Postby Comrade » Tue May 15, 2012 10:05 am

I think you underestimate the abilities of the average citizen and overestimate the understanding of the current crop of legislators.

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Re: JP Morgan Chase loses $2 billion

Postby fisticuffs » Tue May 15, 2012 10:11 am

Generally when someone does a job for a long period of time they get better at it. The problem isn't term limits the problem is the corrupting force of money and the constant campaigning. Term limits would just make the corruption come quicker. Senator X could get his sweet payoff gig with Lobbyist Y a lot quicker if he could no longer do their bidding. We need to take the money out.
Image

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Re: JP Morgan Chase loses $2 billion

Postby rabble » Tue May 15, 2012 10:35 am

Comrade wrote:I think you underestimate the abilities of the average citizen and overestimate the understanding of the current crop of legislators.

Yeah. The same citizens who, as the scientific consensus on climate change grows and grows, increasingly refuses to believe it? The ones with the obesity epidemic and students who can't find Europe on a map?

Right. I'm underestimating the general public.

I don't overestimate any legislators. They're all in over their heads. They're just slightly harder targets.

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Re: JP Morgan Chase loses $2 billion

Postby Comrade » Tue May 15, 2012 11:01 am

But aren't you also in the general public? Couldn't my opinion also apply to you? Is it really fair to overgeneralize like you have just done?

rabble
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Re: JP Morgan Chase loses $2 billion

Postby rabble » Tue May 15, 2012 11:06 am

Comrade wrote:But aren't you also in the general public? Couldn't my opinion also apply to you? Is it really fair to overgeneralize like you have just done?

Sure it's fair. Fifty percent of the public thinks Scott Walker is a great guy, a college education makes you an elitist snob, and tax breaks for corporations creates jobs.

And I know exactly how fast they'd roll over me in today's Congress, which is why I ain't running. Get rid of the Money is Speech laws, throw out lobbying, limit campaign spending and contributions, and maybe I'll think about it.

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Re: JP Morgan Chase loses $2 billion

Postby Comrade » Tue May 15, 2012 11:13 am

I would stipulate that it is generally true that ones abilities get more proficient wilth practice. However, not in this case. Once one is removed from the realities of everyday living, they lose their perspective over time and therefore their effectiveness in how to legislate for the good of the general public.

That being said, corruption is indeed a huge problem. It is unlikely to ever be completely resolved. I would not consider the current situation to be a success in that regard.

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Re: JP Morgan Chase loses $2 billion

Postby Comrade » Tue May 15, 2012 11:16 am

rabble you missed my point entirely. Are you not also a member of the general public which you just denigrated? Can you not see how contradictory that is? Do you really think you could not do better than our current legislators?

I think you underestimate yourself. You are capable of far more than you realize.


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