Zel: Why do we care that a big gambling/investment bank lost a pile of money?
TheShadow: They've lost nearly 9 months worth of their income. Huge tragedy.
Eapoe6: JP Morgan Chase is insolvent. They are drown on junk derivatives and fraud.9 billion? Stop this foolishness, and let them fail. They won't be so big once they fail.
lohphat: Zel: Why do we care that a big gambling/investment bank lost a pile of money?Until it's your retirement fund.
Debeo Summa Credo: So a "worst case scenario" discussed internally in April translates to "it's looking like" in your mind, subby?What's the worst case scenario for unemployment by the end of the year? 10% lets say if euro completely imploded and something else went wrong? Should we then say that it looks like unemployment will be 10%?
Philip Francis Queeg: So when is Dimon going to be charged with fraud for his lies to investors to protect his position and pay package?
Kuroshin: Zel: Why do we care that a big gambling/investment bank lost a pile of money?Because that money is coming out of our pockets, one way or another.
TheLopper: It's a good thing those huge bonuses are keeping all that elite talent at this fine institution. Without them, they'd have lost 9 braziliion. Think about it.
lohphat: TOO BIG TO JAIL.
Orgasmatron138: Oooh, the CEO will be called on the carpet to have his ass kissed again.
dannit724: So JP Morgan lost the money. Who has it now? I've never understood this about investment banking, which seems to assume money just materializes out of thin air.
misanthropologist: I just don't understand why people are so upset about this. If a private company makes a big mistake and loses a bunch of money, what does it have to do with the rest of us? It's THEIR MONEY!! Not yours, not mine, not ours, not the government's... I guess it's all just media hype. Just like when companies post huge earnings, the media is all over it and people celebrate it. Think about it like celebrity news: Charlie Sheen had a total farking meltdown and it didn't hurt his career, did it? JP Morgan is having a major meltdown... let's just be patient and let it blow over so they can get along with their recovery, start having a couple of live-in pornstar girlfriends, and then get involved an a new, similarly shiatty program as the one they're leaving...
violetvolume: So is anyone going to get in trouble for this, or is this just going to be another one of those things where we're like "Oh well, I suppose bygones are bygones!"
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