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Started By
Message
re: JPMorgan CEO blows up at Washington's 'stupid s---'
Posted on 7/14/17 at 12:57 pm to ragincajun03
Posted on 7/14/17 at 12:57 pm to ragincajun03
quote:
Didn't JP Morgan take $20 + billion in the 2008 Bank Bailout.
I don't think much choice was given in the matter behind the scenes and their takeover of Bear Stears was somewhat of a forced marraige to help stem the tide. Don't get me wrong, I'm not saying they came off bad, they came out of the crisis in a better position than ever, but their "acceptance" of the bailout money wasn't entirely on them. The world was about to implode in that moment in history and public/private coordination was not normal.
All that aside, his point is certainly valid. He doesn't seem to have been speaking from a "woe is me" perspective, but from a business perspective with respect to the economy as a whole, not just JPM.
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