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JPMorgan fiasco |
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military
Optics Apprentice Joined: July/12/2011 Location: Indy Status: Offline Points: 57 |
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Posted: May/12/2012 at 12:15 |
Calls to toughen regulation follow JPMorgan loss.
Will the banks ever get it right? How many times do we have to bail them out before they(Bankers) realize "greed" is never good for the long term health of Banks?
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bugsNbows
Optics God bowsNbugs Joined: March/10/2008 Location: North Georgia Status: Offline Points: 11201 |
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GREED. Now that's an interesting word. It means different things to different folks.
Calling SVT. Hey "G", we need a banking Guru on here. Tag, you're it! |
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If we're not suppose to eat animals...how come they're made of meat?
Anomymous |
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military
Optics Apprentice Joined: July/12/2011 Location: Indy Status: Offline Points: 57 |
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I guess what I meant by "Greed" was the Bankers taking reckless risks in an order to satisfy insatible apeitite for growth and profit of share holders, not to mention a hefty bonus at the end of year.
It is a "greed" feeding frenzy if you ask me. What is sad about it is that in essence this this the true nature of Capitalism. which will inevitably experience the Bust and Boom cycles of economy every so often until ... well, you fill in the blank.
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billyburl2
Optics Master Extraordinaire Joined: January/08/2009 Location: Cottonwood, AZ Status: Offline Points: 4015 |
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Greed is a funny word...The "risky" behavior of JP, while not to be envied, the truly "wrong" behavior is from own government for bailing them out.
Greed is what makes me work 12 hour days, sometimes 7 days a week... Greed is good. A government that doesn't really listen to its constituents...That's bad!
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If it is tourist season, why can't we shoot them?
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dsr
Optics Apprentice Joined: May/31/2007 Location: United States Status: Offline Points: 244 |
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As was explained to me they (JP Morgan) whose expert computer system (whom the the pepole at JP did not know what it was doing) led them astray. Right sown the tubes.
dsr |
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budperm
Optics Retard show me your sheep!! Joined: January/01/2009 Location: Pennsylvania Status: Offline Points: 31710 |
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yeah...its all the computers fault!!!
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"Peace is that brief glorious moment in history when everybody stands around reloading".
--Thomas Jefferson |
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gulf1263
Optics Apprentice Joined: June/15/2011 Location: Alaska Status: Offline Points: 212 |
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The risks were taken not for the shareholders but so that the speculators could justify their huge bonuses.
Most of the people in the financial industry could care less about anything but fat bonuses..when I watched the testimony before Congress all of the witnesses essentially said they would collapse our economy again if they could get those huge bonuses again. They consider the share holders rubes, just someone to be played. Art |
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Good day.
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dsr
Optics Apprentice Joined: May/31/2007 Location: United States Status: Offline Points: 244 |
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The point that I was trying to make is the bankers are not as smart as they believe themselves to be. They relied on advanced computer programs that they did not understand the basic limitations of it, so it was GIGO.
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koshkin
MODERATOR Dark Lord of Optics Joined: June/15/2004 Location: United States Status: Offline Points: 13182 |
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Well, if we stop bailing banks out, they might actually learn their lesson and either come up with better computer models or with better ways of testing them. ILya
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dsr
Optics Apprentice Joined: May/31/2007 Location: United States Status: Offline Points: 244 |
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It's not better models it understading the limitations and proper use them.
Maybe if the bankers where personally on the hook for the losses they would exercise diligence with others money. I do agree that they getting use to us paying for their mistakes. |
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