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Started By
Message
re: The Obama Bank Shakedown- "It has nothing to do with justice or restitution"
Posted on 8/26/14 at 5:09 pm to NC_Tigah
Posted on 8/26/14 at 5:09 pm to NC_Tigah
quote:
Kovacevich is right on target. These huge bank settlements are election-year ATMs for the Obama administration. It was $12 billion for JP Morgan, another $7 billion for Citigroup, and on and on. It's a real shakedown.
Not Obama's first time either. I thought this thread was gonna be about when Obama sued Citigroup as a member of ACORN over housing loans back in his community organizing days.
0
Posted on 8/26/14 at 5:23 pm to rcocke2
quote:
When a financial institution like JP/Citi/BoA takes on 10-20 times the risk of most Hedge Funds, that's a problem. Especially when they do not understand their own investments and the risks associated.
Please explain how JPM, BAC, and C took 10-20 times the risk of most hedge funds. I'm all ears.
Posted on 8/26/14 at 5:24 pm to BennyAndTheInkJets
quote:
Please explain how JPM, BAC, and C took 10-20 times the risk of most hedge funds. I'm all ears.
Oh frick yes, this is gonna be good.
Posted on 8/26/14 at 6:05 pm to Rickety Cricket
quote:
Voted for Gary Johnson last go-round. Waiting to see if I'll be able to pull the lever for Rand. If not, it'll be Gary again.
this ... honestly, it's a wasted vote since so many "conservatives" won't vote for a libertarian congressional candidate ... but you have to start somewhere ...
Posted on 8/26/14 at 6:43 pm to BennyAndTheInkJets
quote:
Please explain how JPM, BAC, and C took 10-20 times the risk of most hedge funds. I'm all ears.
It's a guess, order of magnitude. If Bank XYZ knows it can transfer the risk of blowups on to taxpayers, while hedge-funds know they would never be bailed out, it's not even necessary to go any further with an argument. Obvious
Posted on 8/26/14 at 6:44 pm to NC_Tigah
quote:
The Obama Bank Shakedown
Chicago politicians gonna Chicago politician.
This post was edited on 8/26/14 at 6:45 pm
Posted on 8/26/14 at 7:02 pm to rcocke2
Except for... you know.. the exponentially larger regulatory standard that any bank has to comply with relative to hedge funds. Hedge funds can lever themselves upwards of hundreds of times compared to net assets, and I'm referring to pure bond equivalent exposure, not even notional value that can drastically over-represents your economic leverage. Saying it's obvious is absolutely ludicrous, Bear was levered up big time when they went under, and from all accounts it was around 30-1 under pure worst case scenarios.
This was all before dealers signed up to the discount windows, and are now so handcuffed by Dodd-Frank, Basel III, supplemental leverage ratios, etc. that they are essentially not even market makers anymore. Most of the major hedge funds still average anywhere between 4-5 times levered depending on their proprietary calculations. Risk parity funds may be much higher in some cases.
The only thing obvious here is you may not be as well versed on market risk as you think.
This was all before dealers signed up to the discount windows, and are now so handcuffed by Dodd-Frank, Basel III, supplemental leverage ratios, etc. that they are essentially not even market makers anymore. Most of the major hedge funds still average anywhere between 4-5 times levered depending on their proprietary calculations. Risk parity funds may be much higher in some cases.
The only thing obvious here is you may not be as well versed on market risk as you think.
Posted on 8/26/14 at 7:12 pm to BennyAndTheInkJets
quote:
The only thing obvious here is you may not be as well versed on market risk as you think.
It's the Banks using my tax $$ that are not well versed on risk.
Banks need to start loaning money out like they always have and stay away from the risky derivatives trading. They do not know shite about risk either.
I suppose Hedge Funds also have taxpayer backstops for their investments? We have been bailing out the Banks since the 80s, so how are they not Utilities? It is so, bailout after bailout, incentive to take more and more risk. This is easy.
Posted on 8/26/14 at 8:15 pm to NC_Tigah
Poor poor banks.
Ruin the economy and then someone wants to hold them accountable for their pocket change.
Ruin the economy and then someone wants to hold them accountable for their pocket change.
Posted on 8/26/14 at 8:17 pm to Tigah in the ATL
quote:
Poor poor banks.
Ruin the economy and then someone wants to hold them accountable for their pocket change.
it's literally like you read nothing and just posted random words. Thats how out of place your post is...
Posted on 8/26/14 at 8:31 pm to Tigah in the ATL
quote:
Poor poor banks
Yes, over the last thirty or forty years, certain Banks have made themselves very poor but yet they still exist.
quote:
Ruin the economy and then someone wants to hold them accountable for their pocket change
I hope this is sarcasm. The sad thing is that we the taxpayer are being held accountable for their ruination of the economy.
Posted on 8/26/14 at 10:04 pm to rcocke2
quote:Dimon is not at BofA.
Mr Dimon and others at BofA
quote:Your 401k would have lots more money in it, and that's the fault of the banks?
otherwise we would not have this thread going and my 401k would have lots more money in it.
The fact you weren't short the market in 2008-09 is the banks' fault?
S&P just crossed 2000.
The DJIA is pushing record highs, but your 401K sucks so it's someone else's fault?
It's the banks' fault?
Really?
How so?
Posted on 8/26/14 at 10:09 pm to CptBengal
quote:
it's literally like you read nothing and just posted random words.
Posted on 8/26/14 at 10:19 pm to NC_Tigah
quote:
"asking"
Kind of like Carlos Marcello suggesting that a Metairie business pay a little protection money.
They don't have to. It's just a suggestion.
my wife uses this type of phrasing often
Posted on 8/26/14 at 10:26 pm to rcocke2
quote:
It's the Banks using my tax $$ that are not well versed on risk.
Reading this exchange brought to mind the image of a 6-year-old arguing with a professor.
Posted on 8/26/14 at 11:04 pm to rcocke2
quote:
It's the Banks using my tax $$ that are not well versed on risk.
How are banks using your tax money?
If your talking about bailouts, banks don't make that decision, thats the almighty government's call. Blame it.
quote:
Banks need to start loaning money out like they always have and stay away from the risky derivatives trading.
Do you know there is a difference between investment banks and retail/commercial banks?
Who do you suggest banks make loans to? Financially strong businesses/individuals are not struggling to get financed.
quote:
They do not know shite about risk either.
Yep, no idea. It is hard to choose which piece of drivel you spout out brings the biggest laugh to the board. Every time you post, you show your ignorance on the subject.
Please explain how banks don't understand risk? Pst, trading derivatives does not equal risk ignorance.
Which risk do banks not understand? AML, interest rate, credit, enterprise, operation, market, ect,?
Posted on 8/27/14 at 5:30 am to JMTIGER85
quote:It's not evident as of yet that he even understands the difference between JPM and BofA. Might need to start there before moving to PHC's, marketmakers, performance differentials, consumer impact of regulatory burden, etc.
Do you know there is a difference between investment banks and retail/commercial banks?
Posted on 8/27/14 at 5:48 am to 90proofprofessional
quote:
Reading this exchange brought to mind the image of a 6-year-old arguing with a professor.
To be fair, most professors would look like 6 year olds going up against Benny.
Posted on 8/27/14 at 6:36 am to NC_Tigah
quote:
Former Treasury man Hank Paulson threatened then-BofA CEO Ken Lewis if he didn't buy Merrill. . .
WITH WHAT? THREATENED HIM WITH WHAT?
Posted on 8/27/14 at 6:38 am to SpidermanTUba
quote:
WITH WHAT? THREATENED HIM WITH WHAT?
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