Jamie Dimon: "That's Why I Am Richer Than You"- Muppet of year award.

[scootrd]

Wonder why wall streeter bankers get a bad reputation? Dimon is nothing more than a beggar in a well tailored suit. 

There's a reason why Wall Street is so "beloved" by 99% of the people, and that reason is today best summarized by Jamie Dimon's response to analyst Mike Mayo who asked the JPM CEO a simple question - why affluent customers would not pick UBS over JPM due to a mismatch in capital ratios?, to which Dimon's response was: "that's why I'm richer than you." No logic, no rationale: no addressing the question, For this jerk it's all about HIS bottom line is all that matters, to heck with shareholders.

No matter the US taxpayer ran in to bail out "the too big too fail "bank.

No matter that the wealth mismatch is far more due to the too big fail banking system and every time Mr. Dimon uses hundreds of billions in excess deposits to pursue other uber-levered ventures which blow up in his face the government, also known as JPM's OpCo 1, rushes in to bail him, and his personal riches, out.

No matter he used a portion of the bailout monies to cut himself a bonus to boost his personal bottom line AND finance the purchase a Micronesian private island rather then alleviate the damage caused to JPM investors instead.

He deserves the wall street Muppet jerk of the year award.

Semper Fi

[DDZ]

Are you just as upset that taxpayers bailed out GM?

[ChungDoQuan]

Ol' Jamie deserves the Iranian solution...

[ironglow]

  To put it short...the govt had no business bailing out either Wall street OR the auto manufacturers...other that the fact that most of the problems were already caused by government meddling.
 
   I don't believe anyone considers Wall st as "beloved".. nor do many of us consider the habitual whiners as "beloved"..  Wall st is just about "business"..or making money, no surprise there!  The habitual whiners are always with us..if they don't have something to whine about..they make something up!
 
  BTW:  Scoot..aren't you a teacher..or was that Guzzi?  In either case, do you have a retirement plan, IRA or 401K?   If so..then YOU ARE Wall st..so what are you complaining about?

[scootrd]

BTW:  Scoot..aren't you a teacher..or was that Guzzi?  In either case, do you have a retirement plan, IRA or 401K?   If so..then YOU ARE Wall st..so what are you complaining about?

My complaints are with inequality in our tax codes.

My complaints are with "Too big to fail institutions" believing they are above the rules.

My complaints are with a rigged game that continues to place undo burden on the backs of others who have less financial resources to carry the weight yet have tried to do the right thing all their lives.

My complaints are with elected leaders who have forgotten they were elected to serve all Americans , who act like children protecting special interests and pick up their pails and shovels and move to opposite end of the beach because they are not willing to do the hard work come together and legislate.

My complaints are with decades of institutionalized policies implemented by bought and paid for politicians who line their political pockets through protecting folks like Dimon, and hedge fund wall streeters, and abusive corporate tax avoidance corps.

yes I am more well off then others , and yes I have made a comfortable nest egg off sound investments, and yes I have done so through discipline , hard work , and non-access to "special tax rules" only offered to top %ers. I have been truly blessed and literally thank God everyday. But my personal well being does not negate my responsibilities to others, if nothing else it affords me to be a more effective advocate. I have always remembered my blue collar roots , and where I came from, and the values instilled in me at a young age. and the difference between right and wrong.

What I am not is part of this "I got mine jack so the heck with everyone else crowd"  I see and hear from so much nowadays. There are too many Sunday only Christians who pretend to be Pious within the walls of the congregation but word, deed and how they carry themselves in their communities prove different. If some here truly don't see (nor care to see) the decades of financial system inequalities that have favored the few over the many -  then Flame away. water off a ducks back.

Semper Fi.

[DDZ]

BTW:  Scoot..aren't you a teacher..or was that Guzzi?  In either case, do you have a retirement plan, IRA or 401K?   If so..then YOU ARE Wall st..so what are you complaining about?

What I am not is part of this "I got mine jack so the heck with everyone else crowd"  I see and hear from so much nowadays. There are too many Sunday only Christians who pretend to be Pious within the walls of the congregation but word, deed and how they carry themselves in their communities prove different. If some here truly don't see (nor care to see) the decades of financial system inequalities that have favored the few over the many -  then Flame away. water off a ducks back.
Semper Fi.

So if one doesn't buy into the idea of socialism to obtain utopia, then they must belong to the "I got mine jack, heck with everyone else" crowd, and the Sunday only Christian crowd. You claim to know right from wrong, but from many of your posts, I do question that. As I'm sure you question mine and others views of right and wrong. The only truth is God's word written in scripture in the Holy Bible. If man does not follow that then its not the truth. Man has created many falsehoods as their own truth.
For your information giving does not stem from, or through government. True giving is individuals giving to those in need, giving to their community, and to their church. Giving is NOT wanting a government to take more of peoples money, that you think needs taken, and then distributed by that government as it sees fit. Giving by individuals is the way it used to be and it worked. The ones receiving, saw it as a gift, and were thankful for it. Many were even ashamed to accept a gift of money from individuals, and were more apt to strive to help themselves. With government as the giver. People absorb the entitlement mentality, and can care less who's money they just received or where it came from.
We as a people have accepted the fact that government is the giver and vote for those that are willing to be that giver, so as to gain power for themselves. It has nothing to do at all with giving, because they do not care about the receivers well being. All they see is in the receivers are voters. I don't care how you look at it this is wrong as the day is long.       

[scootrd]

at government is the giver and vote for those that are willing to be that giver, so as to gain power for themselves. It has nothing to do at all with giving, because they do not care about the receivers well being. All they see is in the receivers are voters. I don't care how you look at it this is wrong as the day is long.       

I'm not advocating giving anyone a hand out. However, there is a significant difference between a hand out and a hand up.
A level he playing field where all must play by the same rules and have an opportunity to succeed is what I advocate.

 Correcting the inequality in our tax codes is a hand up.
Closing the carried interest loophole is a hand up.
Breaking up too big to fail institutions is a hand up.
Aggressively prosecuting tax avoidance corporations is a hand up.
Not allowing lobbyists on capital him or access to our congressional leaders   is a hand up.
Not demanding seniors who average social security is 24k a year to give up more so a select few can keep their corporate jet write-off as an example  is a hand up.

I could go on but why bother . like I said water off a ducks back .

“It’s all right to tell a man to lift himself by his own bootstraps, but it is cruel jest to say to a bootless man that he ought to lift himself by his own bootstraps.” ― Martin Luther King, Jr.

Semper Fi

[Oldshooter]

"I got mine jack, heck with everyone else"

Heck and I thought this was a thread about "Duck Dynasty" and uncle Si.
 
Never mind yall can keep saving the World, I'm going watch reruns of the Quack Pack. I'll be happier and I'd rather hear Si whine about his problems than read this BS.

[scootrd]

"I got mine jack, heck with everyone else"

Heck and I thought this was a thread about "Duck Dynasty" and uncle Si.
 
Never mind yall can keep saving the World, I'm going watch reruns of the Quack Pack. I'll be happier and I'd rather hear Si whine about his problems than read this BS.

Yes I concur ,
I expected nothing less. that's exactly what you should do.

[ChungDoQuan]

Once you're that rich, you've apparently entered capitalist godhood, and your word is law...

[Oldshooter]

Yea I say down with capitalism ! We should just be a third world economy like Kenya ! ........I forgot we are getting there.

[ChungDoQuan]

I'd say more like Norway, or Sweden, or Finland, or even the Czech Republic, but that's just me and logic...