RCA

JPMorgan Beats: For Banks, This Is as Good as It Gets

My sentiments exactly! My first thought when I read the title of this post was, "What?!"

It is disingenuous and misleading to declare, "JPM Beats..." without some context. They certainly didn't beat expectations of a few weeks ago, and they certainly didn't beat prior year or prior quarter. In fact, in every meaningful way, they did NOT beat anything!

On Jan 15 08:47 AM Jarret wrote:

> It is a bit crazy to say they BEAT estimates when in fact 2 weeks
> ago consensus estimates were .31 cents a share. They beat the "new
> lowered" estimates that Wall Street scambled to provide prior to
> today.

Why Can't Bank Executives See in the Mirror?

> perfectly good companies are falling 40% in one day...

Where have you been the last three months! These companies are anything but good! Many are, in fact, the embodiment of evil. They are anything but good in their business model and they are anything but good in their behavior.

> What is the matter with banning
> short sales temporarily, say for a year, to get a more orderly market?
> Or perhaps you like disorderly markets because you like to short
> stocks, along with all the rest of the greedy bastards who care more
> about their own pockets than they do for their own country's welfare.

That's rich! It is the egregious, immoral greed of the management at companies like AIG, Lehman, Countrywide, Citigroup, and on and on... that created this crisis! Now you want to ignore that colosal greed, and whine about short sellers being greedy?

Did any of the executives at those companies put the country's (let alone the stockholder's) welfare above their greedy self interests? Now they want the people they cheated (the taxpayers) to bail them out with billions of dollars and protectionist, socialistic legislation!

The only way to restore confidence in the markets is for the public to see that evil fails. A complete washout of the perpetrators of this crisis is absolutely needed for the good of the economy and the country. You should be directing your pox toward the evil companies and the evil men in charge of doling out $700 trillion+ of taxpayer money to try to save them.

Paulson and his cronies are responsible for causing this mess. Now this unelected fox has been put in charge of the chicken coop to ensure that the poor slobs who have done no wrong and pay their taxes will get fleeced to save his evil pals.

His goal is not to save America. His goal is to save the greedy bastards who are destroying America and the free markets. His goal is to perpetuate the sytem which allows evil and greed to triumph over honesty and forthrightness. His goal is to ensure that the greedy rich stay rich and the middle class and poor are held accountable for ensuring that it succeeds.

Memo to Bernanke and Paulson: Confidence Is a Function of Capital, Not Liquidity

Briacal, I would liken it to triage. The bailout is more like the first preparatory steps before major surgery, which is then followed by long-term hospitalization, medication, perhaps more surgery, and months of rehabilitation before the patient will even be ambulatory. Will the patient ever run again? With the current surgeons and doctors in place, that is highly unlikely. Physician, heal thyself.