user225084-justme

The Short Case for JPMorgan

On Jan 17 08:35 AM Did U Think The Ponzi Scheme Would Last? wrote:

> CEOs pissed away trillions so that they could personally make hundreds
> of millions. We should just have given them 50 billion and told
> them to do the right thing.

Right on, I somewhat tongue-in-cheek suggested this a few months ago. Think of it as a sort of "protection-racket" or "Wall St private tax", where the I-banks promise not to destroy value if we give them a handout of a few billion a year.

Much cheaper than going through all the gyrations of pretending that there i something useful getting done and then losing trillions from it in order to get a few billion in bonuses.

Madoff sort of had it right. He just forgot to return 49B of the 50B.