Australia faces a "massive hit to government revenues" that "will inevitably continue to impact beyond the current year," says Treasurer Wayne Swan. The deficit increased a further A$4.6B ($4.8B) in the first four weeks of 2013 - above Swan's February estimate of A$2B - taking the total shortfall for the first seven months of the fiscal year to A$26.8B. [View news story]
The Recovery Continues To Topple 'Big-Picture' Theories [View article]
stick with stocks in dividend paying multinational corporations. You get a currency hedge, an inflation hedge, and long term growth. Bonds have to take a pummeling when economic recovery drives up interest rates.
Wall Street Compensation And JPMorgan: It's Déjà Vu All Over Again [View article]
Who is we? Why do you insinuate that Mr. Zamansky is soliciting? You can easily confirm the absurd bonuses paid to traders whose deals then went wrong. Also, what he says regarding Traders resurfacing at other entities is common knowledge and much talked about. Problem is things do not change, and change is most definitely needed. Win and the profit is yours. lose and the Tax payer will take the hit. That is simply capitalism turned on its head.
The World over the notion that Pay and performance is linked turns out to to be mere hype. Pay first and wait for outcomes has produced Global Disaster as evidenced by the following:
"Thursday, May 17, 7:54 AM Fitch's estimate of $566B in additional capital needs for the world's largest banks is likely to create a tradeoff for the lenders. A better capitalization ratio could lead to lower risk premiums, but more capital means ROE will suffer, maybe by more than 20%, thus reducing the bank's ability to attract investment.
JPMorgan's CIO losses can't be described "in any way as a hedge," says hedge fund giant Michael Platt, whose BlueCrest capital was on the other side of the trade. "It's a trading loss. They deliberately put the positions on." "They're not out of those positions," he says and will face further losses if Europe continues to deteriorate. [View news story]
One more undeniable need to move Hedge fund operations out of the aegis of commercial and merchant Banking. Play with you own money and don't use the Bank Assets as the collateral for deals you would not undertake on your own bat.
Here Here! Well said. These Executives are supposed to work for the Bondholders, the Stockholders and at least pay lip service to the creditors of the firm. Yet the response from the financial community as in the piece above is......protect the employees before all else.....or else.
JPMorgan's Dimon: Between The Devil And The Deep Blue Sea [View article]
AND one imagines the Shareholders might choose to see more regulation. Pay Clawbacks For Executives Would Be In Order On JPMorgan Loss by Streetwise Blog
by Boyd Erman JPMorgan Chase & Co. (JPM) chief executive officer Jamie Dimon wants to keep the regulators out of banking – so here's his chance to prove his institution is willing to regulate itself. It's not enough to push out the people at JPMorgan who were responsible for the $2-billion (U.S.) trading loss that the company disclosed last week, which led to a $14-billion disappearance of shareholder value on Friday. The bank and its board ought to demand those involved return much of their pay.
JPMorgan's Dimon: Between The Devil And The Deep Blue Sea [View article]
How much of the deficit is the consequence of the hit the economy took because what should have been hedging became a profit (IRONY ) center? Infallible mathematical models (Irony) dwarfed Banking as the means to the gilded age. Gertrude Stein would have said a $2 Billion loss is a $2 Billion loss etc.
JPMorgan Snafu Argues Against Tighter Volcker Rules [View article]
Hedge by all means but on a 1 to 1 ratio if they can find a counter party. The speculation factor in derivatives lies leveraging the hedge in the hope of making a profit. Worse the risk piles up and contributes to Banks taking less risk in the realm of conventional lending. So. we have mounting leveraged risk and less lending. Or let the traders go into separately financed independent entities and make billions they are lucky and move into the trailer parks if not. That would be free enterprise Capitalism.
JPMorgan Snafu Argues Against Tighter Volcker Rules [View article]
"Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back." -Sir Josiah Stamp, former President, Bank of England
In this case for "CREATING MONEY" substitute and endless stream of funding from the lender of last resort the Red.
Make no mistake that very appropriately describes the status-quo in U.S Banking.
JPMorgan Snafu Argues Against Tighter Volcker Rules [View article]
Banks have been playing with Tax payer money, with the funds provided by their depositors, bond holders and creditors of one sort or another. Then to cap it all they turned to leverage in the Derivatives market, leverage by as much as 70 to 1. How naive(not to say absurd) to call for an absence or lessening of controls. A global "financial Tsunami" trashed the World economy as a result of serial reductions in controls and regulation of the financial community.
JPMorgan Snafu Argues Against Tighter Volcker Rules [View article]
Tanya $2 billion is $2 billion. Incompetence is incompetence. Failure is failure. And you do not take a stand for preventive such large scale threats to the shareholders,creditors, and depositors? With people like you calling the shots we will be in for Bailout #2. Even you know the economy can't afford that.
"I think it's safe to say that all the regulators are focused on this," says SEC Chairwoman Mary Schapiro of the JPMorgan (JPM) news. She spoke to reporters after a speech and had no other comments on the situation. (previous from the SEC on JPM) [View news story]
Same goes for you NOTE TO STONE FOX CAPITAL A $2 Billion dollar loss is a bloody loss.Someone loses you dolt. If that is something you so casually dispense with you should not have responsibility a single cent of someone Else's money period. An genuine investment professional would never dream of making such an insouciant clearly irresponsible statement in a public forum. Have you thought of a career in Storm windows? You do no credit to the many of us who stand on principle do our homework for our clients and condemn the type of Laissez Faire tolerance of incompetence you demonstrate with you exceptionally ill advised input.
"I think it's safe to say that all the regulators are focused on this," says SEC Chairwoman Mary Schapiro of the JPMorgan (JPM) news. She spoke to reporters after a speech and had no other comments on the situation. (previous from the SEC on JPM) [View news story]
NOTE TO STONE FOX CAPITAL A $2 Billion dollar loss is a bloody loss.Someone loses you dolt. If that is something you so casually dispense with you should not have responsibility a single cent of someone Else's money period. An genuine investment professional would never dream of making such an insouciant clearly irresponsible statement in a public forum. Have you thought of a career in Storm windows? You do no credit to the many of us who stand on principle do our homework for our clients and condemn the type of Laissez Faire tolerance of incompetence you demonstrate with you exceptionally ill advised input.
Australia faces a "massive hit to government revenues" that "will inevitably continue to impact beyond the current year," says Treasurer Wayne Swan. The deficit increased a further A$4.6B ($4.8B) in the first four weeks of 2013 - above Swan's February estimate of A$2B - taking the total shortfall for the first seven months of the fiscal year to A$26.8B. [View news story]
The Recovery Continues To Topple 'Big-Picture' Theories [View article]
Wall Street Compensation And JPMorgan: It's Déjà Vu All Over Again [View article]
You can easily confirm the absurd bonuses paid to traders whose deals then went wrong. Also, what he says regarding Traders resurfacing at other entities is common knowledge and much talked about. Problem is things do not change, and change is most definitely needed. Win and the profit is yours. lose and the Tax payer will take the hit. That is simply capitalism turned on its head.
What Jamie Dimon Is Doing Wrong [View article]
"Thursday, May 17, 7:54 AM Fitch's estimate of $566B in additional capital needs for the world's largest banks is likely to create a tradeoff for the lenders. A better capitalization ratio could lead to lower risk premiums, but more capital means ROE will suffer, maybe by more than 20%, thus reducing the bank's ability to attract investment.
JPMorgan's CIO losses can't be described "in any way as a hedge," says hedge fund giant Michael Platt, whose BlueCrest capital was on the other side of the trade. "It's a trading loss. They deliberately put the positions on." "They're not out of those positions," he says and will face further losses if Europe continues to deteriorate. [View news story]
What Jamie Dimon Is Doing Wrong [View article]
JPMorgan's Dimon: Between The Devil And The Deep Blue Sea [View article]
Pay Clawbacks For Executives Would Be In Order On JPMorgan Loss
by Streetwise Blog
by Boyd Erman
JPMorgan Chase & Co. (JPM) chief executive officer Jamie Dimon wants to keep the regulators out of banking – so here's his chance to prove his institution is willing to regulate itself. It's not enough to push out the people at JPMorgan who were responsible for the $2-billion (U.S.) trading loss that the company disclosed last week, which led to a $14-billion disappearance of shareholder value on Friday. The bank and its board ought to demand those involved return much of their pay.
JPMorgan's Dimon: Between The Devil And The Deep Blue Sea [View article]
Infallible mathematical models (Irony) dwarfed Banking as the means to the gilded age.
Gertrude Stein would have said
a $2 Billion loss is a $2 Billion loss etc.
JPMorgan Snafu Argues Against Tighter Volcker Rules [View article]
JPMorgan Snafu Argues Against Tighter Volcker Rules [View article]
-Sir Josiah Stamp, former President, Bank of England
In this case for "CREATING MONEY" substitute and endless stream of funding from the lender of last resort the Red.
Make no mistake that very appropriately describes the status-quo in U.S Banking.
JPMorgan Snafu Argues Against Tighter Volcker Rules [View article]
JPMorgan Snafu Argues Against Tighter Volcker Rules [View article]
JPMorgan Snafu Argues Against Tighter Volcker Rules [View article]
"I think it's safe to say that all the regulators are focused on this," says SEC Chairwoman Mary Schapiro of the JPMorgan (JPM) news. She spoke to reporters after a speech and had no other comments on the situation. (previous from the SEC on JPM) [View news story]
NOTE TO STONE FOX CAPITAL A $2 Billion dollar loss is a bloody loss.Someone loses you dolt. If that is something you so casually dispense with you should not have responsibility a single cent of someone Else's money period. An genuine investment professional would never dream of making such an insouciant clearly irresponsible statement in a public forum. Have you thought of a career in Storm windows?
You do no credit to the many of us who stand on principle do our homework for our clients and condemn the type of Laissez Faire tolerance of incompetence you demonstrate with you exceptionally ill advised input.
"I think it's safe to say that all the regulators are focused on this," says SEC Chairwoman Mary Schapiro of the JPMorgan (JPM) news. She spoke to reporters after a speech and had no other comments on the situation. (previous from the SEC on JPM) [View news story]
You do no credit to the many of us who stand on principle do our homework for our clients and condemn the type of Laissez Faire tolerance of incompetence you demonstrate with you exceptionally ill advised input.