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| 159 views | www.wsws.org
JPMorgan Chase, the biggest US bank by assets, announced Friday that the trading loss from derivatives bets made by its Chief Investment Office had reached $5.8 billion, nearly three times the amount the company had revealed in May.
gonna give my little dick a shake
rich or poor it's what you make
lets drown the rich, in a lake
gonna give my little dick a shake
rich or poor it's what you make
lets drown the rich, in a lake
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US to make profit from bailouts, Treasury says
US to make profit from bailouts, Treasury says
US to make profit from bailouts, Treasury says
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Do you really believe that? Do you really believe anything that fucking tax cheat says? You do understand what they are saying here right? That fascism is quite profitable! Oh, but wait.......I didn't think government can make profit? So even if it does make profit.......where does that money get liquidated too? Do you think you are going to get a better road or a levee or any "good public works"? FFS you don't "bail out" a bank at almost zero interest and then have them turn around and give it back to you at a 3% interest rate and "make money." Did bailing out AIG make money? No. Is Jefferson County going to make a profit? Hell, no. Let me make this clear..............you don't give rich people welfare checks AND MAKE MONEY!!!!
The technical name of the program that Mack and Karches took advantage of is TALF, short for Term Asset-Backed Securities Loan Facility. But the federal aid they received actually falls under a broader category of bailout initiatives, designed and perfected by Federal Reserve chief Ben Bernanke and Treasury Secretary Timothy Geithner, called "giving already stinking rich people gobs of money for no fucking reason at all." If you want to learn how the shadow budget works, follow along. This is what welfare for the rich looks like.
US to make profit from bailouts, Treasury says
Do you really believe that? Do you really believe anything that fucking tax cheat says? You do understand what they are saying here right? That fascism is quite profitable! Oh, but wait.......I didn't think government can make profit? So even if it does make profit.......where does that money get liquidated too? Do you think you are going to get a better road or a levee or any "good public works"? FFS you don't "bail out" a bank at almost zero interest and then have them turn around and give it back to you at a 3% interest rate and "make money." Did bailing out AIG make money? No. Is Jefferson County going to make a profit? Hell, no. Let me make this clear..............you don't give rich people welfare checks AND MAKE MONEY!!!!
The technical name of the program that Mack and Karches took advantage of is TALF, short for Term Asset-Backed Securities Loan Facility. But the federal aid they received actually falls under a broader category of bailout initiatives, designed and perfected by Federal Reserve chief Ben Bernanke and Treasury Secretary Timothy Geithner, called "giving already stinking rich people gobs of money for no fucking reason at all." If you want to learn how the shadow budget works, follow along. This is what welfare for the rich looks like.
http://en.wikipedia.org/wiki/Preferred_shares
Preferred stock is a special class of shares which may have any combination of features not possessed by common stock. The following features are usually associated with preferred stock:[4]
http://en.wikipedia.org/wiki/Preferred_shares
Preferred stock is a special class of shares which may have any combination of features not possessed by common stock. The following features are usually associated with preferred stock:[4]
http://en.wikipedia.org/wiki/Preferred_shares
Preferred stock is a special class of shares which may have any combination of features not possessed by common stock. The following features are usually associated with preferred stock:[4]
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HORSESHIT.....it's called theft. It's called money laundering. How do you buy shares into a bank and then that bank "loans" you the money back at a higher interest rate than it was bought into?
The Fed released records under pressure in December and March that showed the extent of its largesse. The CRS study shows for the first time how some of the most sophisticated financial firms could have taken the Fed's money and flipped easy profits simply by lending it back to another arm of the government.
How do you "pay back" money............using other tax payer funded giveaways?
Now LIBOR and all kinds of other bullshit. Did you know what the statute of limitations on these kinds of brazen federal securities fraud is in the U.S.? 5 YEARS!!!!!! Nobody is going to jail. In fact they will get to keep the money and schmucks like you and me are going to sit there and hold the fucking bag.........all the while the sychophants will feed us barrels of bullshit a day.
http://en.wikipedia.org/wiki/Preferred_shares
Preferred stock is a special class of shares which may have any combination of features not possessed by common stock. The following features are usually associated with preferred stock:[4]
HORSESHIT.....it's called theft. It's called money laundering. How do you buy shares into a bank and then that bank "loans" you the money back at a higher interest rate than it was bought into?
The Fed released records under pressure in December and March that showed the extent of its largesse. The CRS study shows for the first time how some of the most sophisticated financial firms could have taken the Fed's money and flipped easy profits simply by lending it back to another arm of the government.
How do you "pay back" money............using other tax payer funded giveaways?
Now LIBOR and all kinds of other bullshit. Did you know what the statute of limitations on these kinds of brazen federal securities fraud is in the U.S.? 5 YEARS!!!!!! Nobody is going to jail. In fact they will get to keep the money and schmucks like you and me are going to sit there and hold the fucking bag.........all the while the sychophants will feed us barrels of bullshit a day.
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An intelligent and possibly armed populace.
An intelligent and possibly armed populace.
That's your idea of an intelligent person?
That's your idea of an intelligent person?
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By armed and intelligent populace I was implying they would keep their government in line and stop them getting into bed with them.
By armed and intelligent populace I was implying they would keep their government in line and stop them getting into bed with them.
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[video]https://www.youtube.com/watch?v=dLCZhQX_Fm0[/video]
[quote user=pablo420] What's it going to take?
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People and governments have to grow a fucking spine. I don't care what the political stripe, with the exception of Iceland, has anybody gone to jail? Billions just "disappear". You and I both know that goddamned money doesn't just evaporate.....it goes somewhere.
[quote user=mac] isn't the banks getting hosed by reckless bets a good thing?
[/quote]
It's far more than a "reckless bet"....it's called FRAUD.
Weiland compared efforts to reduce Iksil’s outsized position to the difficulty of trying to safely land a Boeing 747 without flying lessons, one executive said. The position was so large and illiquid, Weiland said he couldn’t get the plane below 35,000 feet, the executive said.
By 2010 Iksil’s value-at-risk, or VaR -- a formula used by banks to assess how much traders might lose in a day -- already was $30 million to $40 million, a person with knowledge of the matter said. At times the figure surpassed $60 million, the person said, about as high as the level for the firm’s entire investment bank, which employs 26,000 people.
The natural response: fudge the VaR calculation of course. After all JPM is exception: the rules that apply to everyone else, do not apply to it.
People and governments have to grow a fucking spine. I don't care what the political stripe, with the exception of Iceland, has anybody gone to jail? Billions just "disappear". You and I both know that goddamned money doesn't just evaporate.....it goes somewhere.
It's far more than a "reckless bet"....it's called FRAUD.
Weiland compared efforts to reduce Iksil’s outsized position to the difficulty of trying to safely land a Boeing 747 without flying lessons, one executive said. The position was so large and illiquid, Weiland said he couldn’t get the plane below 35,000 feet, the executive said.
By 2010 Iksil’s value-at-risk, or VaR -- a formula used by banks to assess how much traders might lose in a day -- already was $30 million to $40 million, a person with knowledge of the matter said. At times the figure surpassed $60 million, the person said, about as high as the level for the firm’s entire investment bank, which employs 26,000 people.
The natural response: fudge the VaR calculation of course. After all JPM is exception: the rules that apply to everyone else, do not apply to it.