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The SEC has said that JPMorgan (JPM), Bank of America (BAC) and Morgan Stanley (MS), as well as...
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Thursday, March 14, 4:48 AM ETThe SEC has said that JPMorgan (JPM), Bank of America (BAC) and Morgan Stanley (MS), as well as Citigroup (C), don't have to hold votes at their annual meetings on motions that would require them to consider "extraordinary transactions," including being broken up. The proposals came from labor and religious groups, with a motion from the AFL-CIO, for example, saying that JPM's $6B whaling loss had shown that it had become too big to manage.
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Mayo: I think what I hear UBS saying in the presentation is that if I’m an affluent customer I’ll feel a lot better going to UBS if they have 13.5 (percent) capital ratio than another big bank with a 10 percent ratio. Do you agree with that?
Dimon: You would go to UBS and not JPMorgan?
Mayo: I didn’t say that. That’s their argument.
Dimon: That’s why I’m richer than you.
Source: Forbes (03-03-2013)
Here is the report by Gretchen Morganstern from the LA Times:
http://nyti.ms/YjZPMJ
"JPMorgan Chase. The financial system, thanks to dissembling traders and bumbling regulators, is at greater risk than you know."
As the massive fraud keeps coming to the forefront, we still have the delusional cheerleaders who still come on board with the thinking that as long as you can "show" a profit, it doesn't matter what kind of crash you are pushing up the road.
Ref: http://huff.to/ZXlnjy
"The Senate report found, among other things, that JPMorgan reported inaccurate information, misleading investors and regulators to cover up their growing losses. The report says the bank "used those more favorable prices" in order to avoid reporting losses."