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Jamie Dimon (JPM) heads to Congress once more, this time to testify in front of the House...

Jamie Dimon (JPM) heads to Congress once more, this time to testify in front of the House Financial Services Committee. Dimon's prepared testimony (.pdf) is nearly identical to his remarks in the Senate, but less-friendly lawmakers looking to make some waves may try to trip Dimon up in the Q&A.
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Comments (8)
  • Wyatt Junker
    , contributor
    Comments (4503) | Send Message
     
    Getting sent to the principal's office again?

     

    This is no different from professional wrestling, where half the country pretends its real and the other half thinks its real.

     

    Somebody Blah Blah Blah was called in front of Congress to answer questions in front of Senators Blah Blah Blah and Blah Blah Blah.

     

    I'd like to call the Senators in front of my office. I have a lot of questions I'd like them to answer, publicly.
    19 Jun 2012, 02:53 AM Reply Like
  • winningtrader
    , contributor
    Comments (2476) | Send Message
     
    Haha, this is so good. If you allow me to continue:
    First Senator: Blah Blah Blah.
    Dimon: Blah Blah Blah.
    Second Senator: Blah Blah Blah.
    Dimon: Blah Blah Blah.
    First and Second Senator: Thank you for coming, great job. Go back to the office and keep up the good work ... also, thank you for your contributions.
    19 Jun 2012, 07:14 AM Reply Like
  • Losing Paper While Gaining ...
    , contributor
    Comments (497) | Send Message
     
    And what will come from all this? Maybe some more regulations, which will likely benefit JPM more than it will harm them.
    19 Jun 2012, 02:58 AM Reply Like
  • papayamon
    , contributor
    Comments (1190) | Send Message
     
    my play on this is to sell my JPM after it peaks today, and then buy it back in a couple of days for 50 cents a share less. the jamie dimon effect will make it pop today when dimon talks to the idiots in congress.

     

    after earnings are released in july, i have JPM heading back to 37ish. :). i am bullish JPM, but there is a lot of $$ to be made in the volatility. traders can take advantage.

     

    other than that, there is nothing worthwhile or substantive about this investigation. it is nothing more than idiots attempting to micromanage something they haven't got a clue about.
    19 Jun 2012, 03:22 AM Reply Like
  • Dr. V
    , contributor
    Comments (1179) | Send Message
     
    Did they forget to give him a box of Cubans and a bottle of Cognac?

     

    Or, do they want to here some more jokes, since they were all pals last week. It's not like he was asked to host SNL, he was supposed to testify, not run his best stand-up material past them.

     

    OR....Somebody needs a mortgage, and forgot to ask him to hook it up?
    19 Jun 2012, 05:57 AM Reply Like
  • papayamon
    , contributor
    Comments (1190) | Send Message
     
    i did exactly what i said i'd do.. sold jpm at 35.54... waiting to buy it back at 35.00 by next week. you can bet i'll be up to my eyeballs in jpm the day before ex dividend.

     

    this is a great stock, and terribly undervalued. jamie dimon is an excellent leader for jpm. this loss was really immaterial to jpm's balance sheet, and the risks jpm has taken on have allowed for much greater gains. people are jealous of him, hence the whining. this is, as dimon first said.... a tempest in a teapot.

     

    if you don't like jpm, don't buy the stock, don't do business with them. stick your fingers in your ears if anyone says "jamie dimon"... but don't pretend this guy is anything less than a great ceo of a great bank.
    19 Jun 2012, 06:19 PM Reply Like
  • 4MamaMary13
    , contributor
    Comments (9) | Send Message
     
    Our world is deeply wounded and broken. Jamie Dimon did not cause it all by himself, don’t crucify him. To the most pressing problems of our times, he took charge with urgency believing in his heart that he can magnify his difference instead of his weakness. And, there is no denying that his fragrance of leadership is distinctive that you can neither hide it
    nor disguise it under the shadow of the 2B trading loss. Think clear, it happened because of a flaw, a design inherent in our economic system. Because economics is a science, it should be tested, re-tested until it operates perfectly. I agree, perfection is not a realistic vision for JPM ( because we live in a fallen world ) but JPM's aim is … never to operate imperfectly. At a time like this, we should be grateful that we still have a government, still have a bank that allowed us NOT to live in fear under a hostile environment. Instead of bickering/heckling, let’s focus on seeking what our assignment is and why we are sent here on earth and, participate in transforming our world. Hold on to love and respect… .that’s the winning combination that can change and transfigure our lives as an individual and as a nation.
    19 Jun 2012, 07:28 PM Reply Like
  • Dr. V
    , contributor
    Comments (1179) | Send Message
     
    He took charge as an act of containment, albeit far too late.

     

    Exposure will be 10 X what is being reported.

     

    With a balance sheet like JPM, they can't afford any screw ups.

     

    $2.32 Trillion in assets, and a mere $190 Billion in equity? One needn't be a financial savant to understand that math.

     

    They should be wearing helmets, don't get me started on their negative cash flow.
    23 Jun 2012, 05:55 AM Reply Like
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