Warren vs. Dimon - Warren wins

[nat4900]

Update and reinstate Glass-Steagal......a substantial first step.

 

[Edgetho]

Charles Gasparino is a longtime, respected and very well-connected financial reporter who is now on the Fox Business Network. He's also a conservative.

If you're a conservative, you might want to take a look at this Gasparino piece about the Elizabeth Warren vs. Jamie Dimon feud, in which he admits that Warren is on the right side of the issue on big banks:

In the Warren vs. Dimon Feud It s Warren Not Even Close - The Daily Beast

From the piece:

OK, uber-liberal Elizabeth Warren is no Adam Smith. But when it comes to one issue and maybe one issue only, she comes closer to the famed free-market economist than do most of the bankers on Wall Street, Jamie Dimon included. That issue involves the appropriate size and scope of the nation’s megabanks—JP Morgan, which Dimon runs, is the largest, but the other behemoths, Citigroup, Bank of America, and Wells Fargo, aren’t far behind in dimensions and most importantly risk.

Warren, the senator from Massachusetts and all-around big-bank hater, says these institutions should be broken up by the government out of fear that the system could implode as it did in 2008.

And:

My question: What free-marketer would allow the American taxpayer to subsidize Jamie Dimon’s risk-taking?

Gasparino's right. Warren is right. That's why the one "major" party ticket I'd vote for is Webb/Warren.

.

If you can get the other International Banks broken up, I'll be with you.

But I want you fucking geniuses in the dimocrap scum party and you STUPID fucking liberturdians to understand something.......

List of largest banks - Wikipedia the free encyclopedia

Rank Bank name Total assets
(US$ trillion)
1

Industrial & Commercial Bank of China (ICBC) 3.3
2

China Construction Bank Corporation 2.7
3

HSBC Holdings 2.6
4

Agricultural Bank of China 2.57
5

JPMorgan Chase & Co 2.57
6

BNP Paribas 2.52
7

Bank of China 2.46
8

Mitsubishi UFJ Financial Group 2.3
9

Crédit Agricole Group 2.1
10

Barclays PLC 2.1

We only have ONE (1) Bank in the Top Ten Banks Worldwide. And if you fucking MORONS break it up, how will our tiny little banks be able to compete with the MONSTERS in China, Japan and the UK?

Answer: They won't

You people are just fucking stupid.

You really are

 

[Mac1958]

Charles Gasparino is a longtime, respected and very well-connected financial reporter who is now on the Fox Business Network. He's also a conservative.

If you're a conservative, you might want to take a look at this Gasparino piece about the Elizabeth Warren vs. Jamie Dimon feud, in which he admits that Warren is on the right side of the issue on big banks:

In the Warren vs. Dimon Feud It s Warren Not Even Close - The Daily Beast

From the piece:

OK, uber-liberal Elizabeth Warren is no Adam Smith. But when it comes to one issue and maybe one issue only, she comes closer to the famed free-market economist than do most of the bankers on Wall Street, Jamie Dimon included. That issue involves the appropriate size and scope of the nation’s megabanks—JP Morgan, which Dimon runs, is the largest, but the other behemoths, Citigroup, Bank of America, and Wells Fargo, aren’t far behind in dimensions and most importantly risk.

Warren, the senator from Massachusetts and all-around big-bank hater, says these institutions should be broken up by the government out of fear that the system could implode as it did in 2008.

And:

My question: What free-marketer would allow the American taxpayer to subsidize Jamie Dimon’s risk-taking?

Gasparino's right. Warren is right. That's why the one "major" party ticket I'd vote for is Webb/Warren.

.

If you can get the other International Banks broken up, I'll be with you.

But I want you fucking geniuses in the dimocrap scum party and you STUPID fucking liberturdians to understand something.......

List of largest banks - Wikipedia the free encyclopedia

Rank Bank name Total assets
(US$ trillion)
1

Industrial & Commercial Bank of China (ICBC) 3.3
2

China Construction Bank Corporation 2.7
3

HSBC Holdings 2.6
4

Agricultural Bank of China 2.57
5

JPMorgan Chase & Co 2.57
6

BNP Paribas 2.52
7

Bank of China 2.46
8

Mitsubishi UFJ Financial Group 2.3
9

Crédit Agricole Group 2.1
10

Barclays PLC 2.1

We only have ONE (1) Bank in the Top Ten Banks Worldwide. And if you fucking MORONS break it up, how will our tiny little banks be able to compete with the MONSTERS in China, Japan and the UK?

Answer: They won't

You people are just fucking stupid.

You really are

So I take it you're just fine with the amount of central government oversight, regulation and control under which those banks operate?

Wow. First surprise of my day.

.

 

[gipper]

Charles Gasparino is a longtime, respected and very well-connected financial reporter who is now on the Fox Business Network. He's also a conservative.

If you're a conservative, you might want to take a look at this Gasparino piece about the Elizabeth Warren vs. Jamie Dimon feud, in which he admits that Warren is on the right side of the issue on big banks:

In the Warren vs. Dimon Feud It s Warren Not Even Close - The Daily Beast

From the piece:

OK, uber-liberal Elizabeth Warren is no Adam Smith. But when it comes to one issue and maybe one issue only, she comes closer to the famed free-market economist than do most of the bankers on Wall Street, Jamie Dimon included. That issue involves the appropriate size and scope of the nation’s megabanks—JP Morgan, which Dimon runs, is the largest, but the other behemoths, Citigroup, Bank of America, and Wells Fargo, aren’t far behind in dimensions and most importantly risk.

Warren, the senator from Massachusetts and all-around big-bank hater, says these institutions should be broken up by the government out of fear that the system could implode as it did in 2008.

And:

My question: What free-marketer would allow the American taxpayer to subsidize Jamie Dimon’s risk-taking?

Gasparino's right. Warren is right. That's why the one "major" party ticket I'd vote for is Webb/Warren.

.

If you can get the other International Banks broken up, I'll be with you.

But I want you fucking geniuses in the dimocrap scum party and you STUPID fucking liberturdians to understand something.......

List of largest banks - Wikipedia the free encyclopedia

Rank Bank name Total assets
(US$ trillion)
1

Industrial & Commercial Bank of China (ICBC) 3.3
2

China Construction Bank Corporation 2.7
3

HSBC Holdings 2.6
4

Agricultural Bank of China 2.57
5

JPMorgan Chase & Co 2.57
6

BNP Paribas 2.52
7

Bank of China 2.46
8

Mitsubishi UFJ Financial Group 2.3
9

Crédit Agricole Group 2.1
10

Barclays PLC 2.
We only have ONE (1) Bank in the Top Ten Banks Worldwide. And if you fucking MORONS break it up, how will our tiny little banks be able to compete with the MONSTERS in China, Japan and the UK?

Answer: They won't

You people are just fucking stupid.

You really are

Your first mistake is to think a bank must be huge multinational conglomerate to compete with other huge multinational conglomerate banks.

 

[Edgetho]

Your first mistake is to think a bank must be huge multinational conglomerate to compete with other huge multinational conglomerate banks.

Oh yeah, that's a mistake huh?

Every Economist worth a fuck in this Country feels exactly the same way.

Small Banks just can't compete with the Monstrosities that are bursting at the seams worldwide.

And, riddle me this, genius..... If 'Big' is 'Bad' how come China is kicking our brains out?

To the other poster about regulation......

After the shit storm of Financial Meltdown, I don't blame the goobermint for parking dozens of regulators INSIDE Banks.

They do, you know. They go to work at the same Bank everyday that the Bankers go to.

And I know that the CRA lit the fuse that led to Financial Meltdown.

I know that Fannie and Freddie (and the criminals Franklin Raines and Jamie Gore-Lick [yes, the same one of 9/11 fame]) were playing criminal games and getting rich in the process.

I know all that.

But the Banks themselves didn't HAVE to jump in Head First and try to outdo each other in seeing how many bad loans they could make and how much bad Paper they could sell to unsuspecting Foreign and Domestic Buyers.

In the mid 2000's, the Markets weren't doing all that great and Giant Investment Arms here and, especially, in Europe were looking for somewhere to put their money without much risk. They felt the Equities Markets were unstable.

The Big Banks, AND Fannie and Freddie, packaged some shit loans into Triple AAA Bonds and sold them as such.

But they weren't AAA. There was a great deal of SHIT in there.

And when those loans started defaulting ($300,000 Home Equity Loan on a $200,000 House......??) those bonds that the Banks (and Fannie and Freddie) were selling as AAA started defaulting.

Were the Big Banks completely at fault? Not totally. They were forced to buy a lot of that bad paper (CRA) but they KNEW what they were doing when they sold that SHIT paper as Triple 'A' and it wasn't

Long story. Really boring.

But yeah, they deserve to be monitored. Closely.

 

[gipper]

Update and reinstate Glass-Steagal......a substantial first step.

That is a good first step.

Then, since I am rather vindictive, I would charge the heads of the big banks with treason and imprison them. Then charge most in Congress and POTUS with similar charges....then dissolve the Fed and imprison Greenspan, Bernanke, and Yellen along with all living Fed board of governors.

That, in my view, would be a good first step.

 

[gipper]

Your first mistake is to think a bank must be huge multinational conglomerate to compete with other huge multinational conglomerate banks.

Oh yeah, that's a mistake huh?

Every Economist worth a fuck in this Country feels exactly the same way.

Small Banks just can't compete with the Monstrosities that are bursting at the seams worldwide.

And, riddle me this, genius..... If 'Big' is 'Bad' how come China is kicking our brains out?

To the other poster about regulation......

After the shit storm of Financial Meltdown, I don't blame the goobermint for parking dozens of regulators INSIDE Banks.

They do, you know. They go to work at the same Bank everyday that the Bankers go to.

And I know that the CRA lit the fuse that led to Financial Meltdown.

I know that Fannie and Freddie (and the criminals Franklin Raines and Jamie Gore-Lick [yes, the same one of 9/11 fame]) were playing criminal games and getting rich in the process.

I know all that.

But the Banks themselves didn't HAVE to jump in Head First and try to outdo each other in seeing how many bad loans they could make and how much bad Paper they could sell to unsuspecting Foreign and Domestic Buyers.

In the mid 2000's, the Markets weren't doing all that great and Giant Investment Arms here and, especially, in Europe were looking for somewhere to put their money without much risk. They felt the Equities Markets were unstable.

The Big Banks, AND Fannie and Freddie, packaged some shit loans into Triple AAA Bonds and sold them as such.

But they weren't AAA. There was a great deal of SHIT in there.

And when those loans started defaulting ($300,000 Home Equity Loan on a $200,000 House......??) those bonds that the Banks (and Fannie and Freddie) were selling as AAA started defaulting.

Were the Big Banks completely at fault? Not totally. They were forced to buy a lot of that bad paper (CRA) but they KNEW what they were doing when they sold that SHIT paper as Triple 'A' and it wasn't

Long story. Really boring.

But yeah, they deserve to be monitored. Closely.

To think we need big banks with enormous power and political influence, is to not think.

We need to drastically reduce their size and influence. And even if doing so limits their ability to compete globally, so what?

 

[Edgetho]

To think we need big banks with enormous power and political influence, is to not think.

We need to drastically reduce their size and influence. And even if doing so limits their ability to compete globally, so what?

You really are stupid.

But..... You're a liberturdian. The only living thing lower than a dimocrap.

At least dimocraps don't pretend to be something they're not. liberturdians pretend to be your friend then, as soon as you turn around, they stab you in the back.

You really are a stupid fuck.

Here's a simple assignment for you..... Look up "Economies Of Scale"

And no, I really don't want to hear back from you -- Ever

fucking moron

 

[nat4900]

The "charming" Edgetho is a certifiable moron.

Glass-Steagal was enacted as a "safety-valve" for the gambling by big banks which contributed to the Great Depression.......That depression was felt world-wide and international, huge banking conglomerate are just as susceptible now as they were in the 1930s.....including China's banks, which have a symbiotic relationship with the US.

IF we are to lead the world's economies, then we must set the standard for regulating and stopping the US bankers from claiming capitalism when the going is good....and socialism when they need to be bailed out for their excesses.

 

[NYcarbineer]

To think we need big banks with enormous power and political influence, is to not think.

We need to drastically reduce their size and influence. And even if doing so limits their ability to compete globally, so what?

You really are stupid.

But..... You're a liberturdian. The only living thing lower than a dimocrap.

At least dimocraps don't pretend to be something they're not. liberturdians pretend to be your friend then, as soon as you turn around, they stab you in the back.

You really are a stupid fuck.

Here's a simple assignment for you..... Look up "Economies Of Scale"

And no, I really don't want to hear back from you -- Ever

fucking moron

Look up 'how to behave like an adult'.