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Listening to Dimon, one almost feels sorry for bank executives and their shareholders given the...

Listening to Dimon, one almost feels sorry for bank executives and their shareholders given the regulatory foot they're under. Asked about share repurchases, Dimon wants to get back to them in 2013. Though little changed in the bank's underlying business or capital strength, JPM was forced to suspend buybacks at $32 share in wake of the London Whale, and now will resume them at a far higher price.
Comments (10)
  • SoldHigh
    , contributor
    Comments (995) | Send Message
     
    One might think that JPM could find a better use of cash than stock buybacks.
    12 Oct 2012, 09:30 AM Reply Like
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    Dimon does frequently emit high-pitched whining noises.
    12 Oct 2012, 09:33 AM Reply Like
  • june1234
    , contributor
    Comments (2493) | Send Message
     
    JPM just reported almost $6 billion in profits. I feel sorry for them also for his having to suspend their $32 share buybacks which he will now have to resume at a far higher price cause his bank decided to get involved in some hedged bets that are working out for JPM. Don't worry the Fed , as always, stands ready to bail them out again if needed. In the meantime everybody send Jamie $5 as a show of support it's the least we can do under these trying circumstances.
    12 Oct 2012, 09:38 AM Reply Like
  • Hitesh Patel
    , contributor
    Comments (314) | Send Message
     
    Dimon will be able to resume his repurchase program at 15/ share
    12 Oct 2012, 09:49 AM Reply Like
  • june1234
    , contributor
    Comments (2493) | Send Message
     
    Yeah, I'm sure he will . Articles like this one belong on comedy central, at least it's fumy on their show.
    12 Oct 2012, 10:01 AM Reply Like
  • Ted Bear
    , contributor
    Comments (573) | Send Message
     
    I almost (almost) feel sorry for Jamie Dimon, and maybe (maybe) he doesn't deserve the regulatory scrutiny heaped on the industry.

     

    But, let's face it, while there may be a lot of pencil necks floating around the banks pretending to provide regulatory over sight, there has NEVER been a meaningful penalty assessed to the ilk for even the most heinous of crimes. Goldman's CDO fraud comes to mind, for which they paid a paltry $500 MM fine, IIRC. Hell, the fine wasn't even sufficient to have them report a losing quarter, let alone penalize the firm in any meaningful way.

     

    And lastly, the banks damned near took this nation down. Killed it. Kaput. Were it not for the largesse of the taxpayers, we might have been dealt a death blow.

     

    For that alone they deserve the aggravation of having peering eyes and probing fingers, let alone REAL regulatory scrutiny.
    12 Oct 2012, 10:20 AM Reply Like
  • june1234
    , contributor
    Comments (2493) | Send Message
     
    I don't almost feel sorry for him or any regulatory oversight (such as it is) that may be visited on Jamie. Judging from his recent performance in front of Congress where on one occasion he ignored altogether one senators comments/questions I don' t think Jamie is too stressed about it either. I always did like the name JP Morgan Chase, just like the ol pirate JP Morgan, no failure to disclose there
    12 Oct 2012, 10:46 AM Reply Like
  • june1234
    , contributor
    Comments (2493) | Send Message
     
    You first have to establish who is overseeing who. When I saw Jamie testifying before Congress recently it looked to me like the senators were testifying before Jamie. He acted like he was late for some golf outing. When I first heard his name a few years ago I thought they said Jamie Diamond with JP Morgan. I thought to myself what a perfect name for the worlds premier super bank and its CEO, like I said no failure to disclose there on Jamie or his banks part
    12 Oct 2012, 10:56 AM Reply Like
  • CaladesiKid2
    , contributor
    Comments (271) | Send Message
     
    Sympathy for J. Dimon? Why? Somehow he will make do with his multimillion dollar bonus to supplement his seven digit salary. All for the terrible difficulty of laundering Federal funds into government bonds and Dow stocks. The TBTF banks can surely make a fortune when they have the entire taxpayer base supporting them with zero interest rates. Respect, on the other hand, is earned, not controlled by the Federal Reserve.
    12 Oct 2012, 01:40 PM Reply Like
  • Peter_Do
    , contributor
    Comments (38) | Send Message
     
    The London Whale story sunk their stock to $32. They were trading around $46 before it hit or rumor of it hitting. So no, they did not suspend their stock repurchase at $32 only to buy it at much higher. If the London Whale story did not happen they would be buying it around $46. Distortion.
    12 Oct 2012, 02:18 PM Reply Like
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