JP Morgan has been on a roller coaster ride since 2008. JP Morgan survived the global economic crash without much trouble. The company actually didn't need a bailout. It just seems to me JP Morgan has a loyalty to the USA that is seldom witnessed in the financial sector.
In reality, in 2008, JP Morgan came to the rescue of the financial sector, it could have acted differently.
I just think it is time for the big banks to start to downsize. I just thought some creativity in applying the fine of multiple billions could be used to begin a downsizing process rather than simply pay a fine.
It has to start sometime. These colossal banks can't go on forever. Morgan might be game to begin a downsizing process rather than paying fines. Just a thought. For the most part, Dimon is an honest broker or at least he attempts to be and if JP Morgan sees their way clear to begin to downsize the corporation he could be trusted to set a model for the Congress and other banks.
One of the aspects of downsizing the big banks is to provide an umbilical cord of credit to establish an autonomous institution that can compete in the real world. I think Dimon is capable of it. He is a leader.
Jill Treanor
The Guardian
Bank's Jamie Dimon (click here) may have to settle on record $11bn penalty following recent $920m fine over 'London Whale' incident
The boss of America's biggest bank, JP Morgan, was on Thursdaypersonally negotiating a new financial settlement with US regulators over allegations stemming from the way the bank sold sub-prime mortgage bonds before the banking crisis. The settlement could reach a record $11bn (£7bn)
Jamie Dimon, one of the few bankers still at the helm of a big bank following the 2008 financial meltdown, turned up for face-to-face talks with the US attorney general, Eric Holder, at the department of justice in Washington. The negotiations prompted fresh speculation that Dimon will be forced to agree to a payout bigger than the $4.5bn paid by BP over the Gulf of Mexico oil spill.
There are suggestions JP Morgan could be forced to make $4bn of payments to consumers and $7bn of penalties to cover losses incurred from the way mortgages were packaged by JP Morgan as the financial crisis took hold....
In reality, in 2008, JP Morgan came to the rescue of the financial sector, it could have acted differently.
I just think it is time for the big banks to start to downsize. I just thought some creativity in applying the fine of multiple billions could be used to begin a downsizing process rather than simply pay a fine.
It has to start sometime. These colossal banks can't go on forever. Morgan might be game to begin a downsizing process rather than paying fines. Just a thought. For the most part, Dimon is an honest broker or at least he attempts to be and if JP Morgan sees their way clear to begin to downsize the corporation he could be trusted to set a model for the Congress and other banks.
One of the aspects of downsizing the big banks is to provide an umbilical cord of credit to establish an autonomous institution that can compete in the real world. I think Dimon is capable of it. He is a leader.
Jill Treanor
The Guardian
Bank's Jamie Dimon (click here) may have to settle on record $11bn penalty following recent $920m fine over 'London Whale' incident
The boss of America's biggest bank, JP Morgan, was on Thursdaypersonally negotiating a new financial settlement with US regulators over allegations stemming from the way the bank sold sub-prime mortgage bonds before the banking crisis. The settlement could reach a record $11bn (£7bn)
Jamie Dimon, one of the few bankers still at the helm of a big bank following the 2008 financial meltdown, turned up for face-to-face talks with the US attorney general, Eric Holder, at the department of justice in Washington. The negotiations prompted fresh speculation that Dimon will be forced to agree to a payout bigger than the $4.5bn paid by BP over the Gulf of Mexico oil spill.
There are suggestions JP Morgan could be forced to make $4bn of payments to consumers and $7bn of penalties to cover losses incurred from the way mortgages were packaged by JP Morgan as the financial crisis took hold....
