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Started By
Message
2
Posted on 4/30/19 at 10:55 am to EarlyCuyler3
We sure are. Can't really proceed in a conversation if you can't answer a simple yes or no question.
Kind of sad really.
Kind of sad really.
Posted on 4/30/19 at 10:57 am to LSUZombie
quote:
Patton Oswalt - Oh my God frick you @Chase bank
He really is one of the fricking worst people on the planet.
Posted on 4/30/19 at 11:03 am to NorthGwinnettTiger
Did Trump bail out Chase bank?
Posted on 4/30/19 at 11:03 am to hans
quote:
do you have a source for this?
quote:6/18/2012
JPMorgan Chase CEO: Bank Took TARP, 'Because We Were Asked to' by Treasury Secretary
But Dimon was quick to fire back, labeling Merkley’s assertions as “factually wrong.”
“I think you were misinformed,” Dimon said. “And I think that misinformation is leading to a lot of the problems we’re having today.
“JP Morgan took TARP because we were asked to by the Secretary of the Treasury of the United States of America. Put the FDIC in the room; the head of the New York Fed, Tim Geithner; chairman of the Federal Reserve, Ben Bernanke.
He added: “We did not, at that point, need TARP. We were asked to, because we were told, I think correctly so, that if the nine banks there, and some may have needed it, take this TARP, we can get it into all these other banks and stop the system from going down.”
quote:6/9/2009
Earlier today, the U.S. Government granted permission to JPMorgan Chase to repay in full the $25 billion preferred investment we accepted under the Troubled Asset Relief Program (TARP). It is a testament to our firm’s strength and stability that JPMorgan Chase is able to repay TARP funding in full and with dividends to U.S. taxpayers at this time, and to be in the first wave of institutions permitted to do so.
Posted on 4/30/19 at 11:13 am to EarlyCuyler3
quote:
EarlyCuyler3
You keep saying that it was the banks that made these loans to screw the poor.
You need to realize that probably 75% of the loans that went bad were made by mortgage companies and not the banks.
As LSU Russian states, JPM was forced to take the loan. They also help the government out by buying Bear Stearns. Lehman had already failed. The treasury/FOMC couldn't have another wall street firm fail.
Bear and Lehman were the two biggest players in the subprime industry at the time.
This post was edited on 4/30/19 at 11:14 am
Posted on 4/30/19 at 11:25 am to bbvdd
quote:
You keep saying that it was the banks that made these loans to screw the poor.
I realize that. It's an oversimplification. They packaged the loans and sold them off to investors knowing they were crap. That's their part. They knew they were buying garbage and did it anyway. Because they knew they would face no real consequences. It's either that or they are too incompetent to correctly value the loans. Either way, the taxpayers got left holding the bill and the executives kept their nice shiny bonuses.
quote:
The report suggests that those roughly 5,000 people — a small subset of the industry — accounted for more than $5 billion in bonuses. At Goldman, just 200 people collectively were paid nearly $1 billion in total, and at Morgan Stanley, $577 million was shared by 101 people. All told, the bonus pools at the nine banks that received bailout money was $32.6 billion, while those banks lost $81 billion. Some compensation experts questioned whether the bonuses should have been paid at all while the banks were receiving government aid.
LINK
Posted on 4/30/19 at 11:25 am to LSUZombie
When people like borderline aliens such as Stephen King speak out, the world is falling on its arse.
Posted on 4/30/19 at 11:40 am to EarlyCuyler3
quote:
I realize that. It's an oversimplification. They packaged the loans and sold them off to investors knowing they were crap. That's their part. They knew they were buying garbage and did it anyway. Because they knew they would face no real consequences. It's either that or they are too incompetent to correctly value the loans. Either way, the taxpayers got left holding the bill and the executives kept their nice shiny bonuses.
To be fair, the buyers of these assets were for the most part sophisticated investors managing billions of dollars...they had "big boy" letters
the big issues came with the fraud that became a major part of many of the mtge companies underwriting process, that didn't occur until 2006-2007...I just had a 2005 vintage ResB/C subordinated bond come across my desk that is has and is performing well
Posted on 4/30/19 at 11:46 am to The Spleen
quote:
Remind me again how much money Chase took from taxpayers after shitty/fraudulent investment decisions that helped tank the economy...
That wasn’t chases fault, that was the economy
It is your fault that you got a gender studies degree and work at Starbucks snowflake
Posted on 4/30/19 at 11:47 am to hubreb
It's just a virtual house of cards.
"I say it has value."
"Ok, how does it have value?"
"Cause I said so and put this rating on it."
Ok....
"I say it has value."
"Ok, how does it have value?"
"Cause I said so and put this rating on it."
Ok....
Posted on 4/30/19 at 11:49 am to el Gaucho
quote:
It is your fault that you got a gender studies degree and work at Starbucks snowflake
We can't all take our GED's and throw chain and let Jody frick our wives Gaucho. Some of us had to study the liberal arts.
Posted on 4/30/19 at 11:51 am to EarlyCuyler3
Why is always you liberals getting liberal arts degrees
Posted on 4/30/19 at 11:52 am to el Gaucho
Why is the sky blue? They don't think it be like it is, but it do - Black Science Man
Posted on 4/30/19 at 12:55 pm to LSUZombie
quote:
Patton Oswalt - Oh my God frick you @Chase bank
He inserts himself into everything. Nothing to see here.
Posted on 4/30/19 at 1:39 pm to lsuwontonwrap
quote:
He inserts himself into everything. Nothing to see here.
You must hate Trumo.
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