Humor, Tumor and Much more than Rumor
May 17, 2012 § Leave a comment
Let us begin with a grin:—
JPMorgan’s massive $2 billion trading loss has spilled over into presidential politics, with presumptive Republican nominee Mitt Romney, defending JP Morgan and calling the disastrous trade an example of the inherent risks of the free market.
What MR knows about financial markets isn’t worth knowing. How true, how true. From a quite different world, that man. Stay with it, MR, the other world that is. For one thing, actually the main thing, you will be better off among the saints.
Despite political arrays against the power of media upon/among the voting publics, media remains powerful. So powerful that banking and financial markets’ traders need invent a cover story for them to purvey. So as to prevent taxpayers’ general finding out the extent of private profiteering from their publicly beneficial institutional guarantees. To describe this cover story as a tumor does not overstate things. More particularly I might specify in ascribing the tumor as benign. Presently.
Yet so doing because only a fool would leave a body tumor at that. Show no further interest. Monitor. Call the doctor at any sign of change. And.. well you get my drift.
Foolish indeed then, the kiwi this morning – ZB’s Mike-of-the-south – whose lede commentary had the faucet sounds and gurgle of a North Canterbury township’s water supply being turned on again after system shutdown. Not to defend JP Morgan Chase (Chase is the retail part) Bank in the USA saith he plaintively, but banks .. blah blah. I kid ye not, as this wrap of his makes clear: “…when bankers DO more bankers lend. And lending—”
I was inclined at this point to insert a DOH! But instead, and magnanimously in evident circumstances of distance from the action, Net and/Web resourcing reliant to any extent on the gamed US media take with its lambs to the slaughter victimology, intend BETTER. BETTER KNOWING than not. BETTER for those that should know. And can do something about. Not least for themselves. And more australasians..
ALL on video .. (May 15) – Tuft University’s Amar Bhide talks about JPMorgan’s $2 billion loss and Jamie Dimon’s leadership on Bloomberg Television’s Inside Track.
Get, please do:—
1. The significance of over-leverage and/or leverage-on-leverage.
2. The correct nature of fund sources, and what or how an incorrect understanding – private asset valuations($3Tn per JPMC) have neither status nor regarded risk merit to set against such loss behaviors) – can lead to. Very rapidly, believe you me!
3. Recognise where the US picture touches kiwi frames. For instance: given the ‘hotmoney’ solicitations of Dimon’s devilry can we dismiss the prospect of kiwibuck selloff/s as kiwi govt bank guarantees lapse.?
Much more than Rumor has it PO$ITIVELY that Big Names agree on charging into the future.
Finally a question.. to whom does one listen up this weekend.. por favor