Dear Mr. Dimon, Is Your Bank Getting Corporate Welfare? http://www.bloomberg.com/news/2012-06-18/dear-mr-dimon-is-your-bank-getting-corporate-welfare-.html
Implicit Subsidy~ "With each new banking crisis, the value of the implicit subsidy grows. In a recent paper, two economists -- Kenichi Ueda of the IMF and Beatrice Weder Di Mauro of the University of Mainz -- estimated that as of 2009 the expectation of government support was shaving about 0.8 percentage point off large banks’ borrowing costs. That’s up from 0.6 percentage point in 2007, before the financial crisis prompted a global round of bank bailouts.
To estimate the dollar value of the subsidy in the U.S., we multiplied it by the debt and deposits of 18 of the country’s largest banks, including JPMorgan, Bank of America Corp. and Citigroup Inc. The result: about $76 billion a year. The number is roughly equivalent to the banks’ total profits over the past 12 months, or more than the federal government spends every year on education.
JPMorgan’s share of the subsidy is $14 billion a year, or about 77 percent of its net income for the past four quarters. In other words, U.S. taxpayers helped foot the bill for the multibillion-dollar trading loss that is the focus of today’s hearing. They’ve also provided more direct support: Dimon noted in a recent conference call that the Home Affordable Refinancing Program, which allows banks to generate income by modifying government-guaranteed mortgages, made a significant contribution to JPMorgan’s earnings in the first three months of 2012."
Yep Patrick...waiting for NJ to slip into the ocean...could be any day now. Edgar Cayce warned me many years ago when I read about his predictions. And still..here I sit...ha. In fact, when I read the book I was living right outside of Philly. Talk about jumping into the fire from the frying pan. That Naval map is an eye opener.
It seems Biff Bradley is also a predictor of sorts... Biff Bradley...what a name....made me laugh :)
I don't know... you gotta wonder if it's for the cameras. Plus it sounded rehearsed to me, the man was too calm in his delivery. If it were me, there would be a quiver in my voice it would be impossible to quell.
In an election year and their guy Der Mittenschtein is a real stinker, they have to make it seem like congress is attempting to do something... lull them-asses back to sleep.
Wanda, some people live to make statements in public like that. One of our own, Michael Cavlan is great in that kind of situation, Luke Rudwoski from We are Change is another that comes to mind. So I don't find that odd even though I'd find myself so nervous and angry I'd probably forget what I wanted to say.
What I was thinking was more like the monsters know they have everything under control. That the Amerikans are in such a trance that instead of cheering a guy heckling Dimon on, they would say he was nothing but a troublemaker. I have to say, they are right.
Yea, they got their fingers on the pulse of the people and it's very weak.
Granted, and i've heard those guys too. what seems different here is this guy acts like he has all the time in the world to deliver his oration... it does seem he was alloted a certain amount of time there. Who knows, anyway, frankly... it's all theater.
I just don't understand how some looney can get up and be so nasty to one of America's most upstanding citizens. Why wasn't he fasered masered stomped and lasered cow prodded and shackled??? American's just aren't civilized anymore...where's a real man like Reagan when we need him. He woulda pulled out his 44 Magnum and said "Make my day"...then the crowd would know whats what.
Everybody knows it's when we let those commie slopes win in Nam that the Good Ol'USA was lost {gawblesmarkah}. This is what happens when people don't follow their orders, which everyone should know is for their own good.
Hero. The heckler, not Dimon.
ReplyDeleteI wonder who the guy has included in his list of 17 other crooked bankers. S'pose I should try and find out.
Good stuff, thanks JG.
TERROR to Congress is threats of the "Dimon Jims"
ReplyDeleteDear Mr. Dimon, Is Your Bank Getting Corporate Welfare?
http://www.bloomberg.com/news/2012-06-18/dear-mr-dimon-is-your-bank-getting-corporate-welfare-.html
Implicit Subsidy~
"With each new banking crisis, the value of the implicit subsidy grows. In a recent paper, two economists -- Kenichi Ueda of the IMF and Beatrice Weder Di Mauro of the University of Mainz -- estimated that as of 2009 the expectation of government support was shaving about 0.8 percentage point off large banks’ borrowing costs. That’s up from 0.6 percentage point in 2007, before the financial crisis prompted a global round of bank bailouts.
To estimate the dollar value of the subsidy in the U.S., we multiplied it by the debt and deposits of 18 of the country’s largest banks, including JPMorgan, Bank of America Corp. and Citigroup Inc. The result: about $76 billion a year. The number is roughly equivalent to the banks’ total profits over the past 12 months, or more than the federal government spends every year on education.
JPMorgan’s share of the subsidy is $14 billion a year, or about 77 percent of its net income for the past four quarters. In other words, U.S. taxpayers helped foot the bill for the multibillion-dollar trading loss that is the focus of today’s hearing. They’ve also provided more direct support: Dimon noted in a recent conference call that the Home Affordable Refinancing Program, which allows banks to generate income by modifying government-guaranteed mortgages, made a significant contribution to JPMorgan’s earnings in the first three months of 2012."
I CAN"T RESIST DEB - BACK BY DEMAND... ROBBERDANCE
ReplyDeleteThey let the guy go on for a long time... that was surprising.
ReplyDeleteSome news for Jersey Girl regarding Jersey.
ReplyDeleteHurricane storm surge risk in 2012 for US Gulf Coast and Atlantic coast
http://thewatchers.adorraeli.com/2012/06/22/hurricane-storm-surge-risk-in-2012-for-us-gulf-coast-and-atlantic-coast/
Most Vulnerable U.S. Nuclear Plants
http://www.thedailybeast.com/articles/2011/03/16/nuclear-power-plants-ranking-americas-most-vulnerable.html
OCCUPI innie on the outies!
ReplyDeletehttp://www.youtube.com/watch?v=heXZTMHG88Y&feature=player_embedded
One of my favorite places to eat.
ReplyDeletehttp://mw2.google.com/mw-panoramio/photos/medium/23885540.jpg
Yep Patrick...waiting for NJ to slip into the ocean...could be any day now. Edgar Cayce warned me many years ago when I read about his predictions. And still..here I sit...ha. In fact, when I read the book I was living right outside of Philly. Talk about jumping into the fire from the frying pan. That Naval map is an eye opener.
ReplyDeleteIt seems Biff Bradley is also a predictor of sorts... Biff Bradley...what a name....made me laugh :)
She's funny! Reminds me of Lily Tomlin.
ReplyDeleteI was thinking the same thing wanda. Was waiting for the "don't taze me bro'" pleading".........that was surely odd.
ReplyDeleteYou're very welcome MrO. That heckler had a great rant. I'd like to make it my ringtone. Dimon is a demon.
ReplyDeleteI don't know... you gotta wonder if it's for the cameras. Plus it sounded rehearsed to me, the man was too calm in his delivery. If it were me, there would be a quiver in my voice it would be impossible to quell.
ReplyDeleteIn an election year and their guy Der Mittenschtein is a real stinker, they have to make it seem like congress is attempting to do something... lull them-asses back to sleep.
Wanda, some people live to make statements in public like that. One of our own, Michael Cavlan is great in that kind of situation, Luke Rudwoski from We are Change is another that comes to mind. So I don't find that odd even though I'd find myself so nervous and angry I'd probably forget what I wanted to say.
ReplyDeleteWhat I was thinking was more like the monsters know they have everything under control. That the Amerikans are in such a trance that instead of cheering a guy heckling Dimon on, they would say he was nothing but a troublemaker. I have to say, they are right.
Yea, they got their fingers on the pulse of the people and it's very weak.
Granted, and i've heard those guys too. what seems different here is this guy acts like he has all the time in the world to deliver his oration... it does seem he was alloted a certain amount of time there. Who knows, anyway, frankly... it's all theater.
ReplyDeleteThe still graphic of the video shows two women. Just look at their posture. I find it priceless.
ReplyDeleteYou're brave to eat where you lounge! :)
ReplyDeleteNot sure if that's a double, triple or fourple entendre... Lol
ReplyDeleteI think the Bearded Clam is from the Simpson's... right, Mr. 0?
I remember the term being used back in high school -- a very, very long time ago.
ReplyDeleteOh wait, I thought it said, "Lunge." OK, bad joke.
ReplyDeleteThe world is really getting out of hand.
ReplyDeleteI just don't understand how some looney can get up and be so nasty to one of America's most upstanding citizens. Why wasn't he fasered masered stomped and lasered cow prodded and shackled??? American's just aren't civilized anymore...where's a real man like Reagan when we need him. He woulda pulled out his 44 Magnum and said "Make my day"...then the crowd would know whats what.
Everybody knows it's when we let those commie slopes win in Nam that the Good Ol'USA was lost {gawblesmarkah}. This is what happens when people don't follow their orders, which everyone should know is for their own good.
Why doesn't he move to China?
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And he's got that beautiful silver hair just like that actor Richard Gears...
ReplyDelete\\ii//
"I have seen some low life in 9/11, but you are setting a whole new standard."
ReplyDeleteThis is what Jim Fetzer said to me on another blog...{grin}
I think...maybe...he was trying to insult me. er sumpin..???
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Hey Puddy, rumors goin 'round they found the "God Particle"...and you know how they recognized it?
ReplyDeleteIt has the face of Jesus - and he looks just like the guy on the Shroud.
And one scientist claims its palms were bleeding.
Can't get more sure than that - surely that is.
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