Relevant:
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- Wall St. Banks Expected to Post Weak 2nd-Quarter Results
- Ted Butler: JP Morgan Racked Up Perfect Trading Record With Silver Shorts
- BofA, JPMorgan Reprise Perfect Trading Records
- Bank of America's Profit Rises Despite Drag From Lower Rates, As Wall Street Floats on A Frothy Market
2010-05-14 — bloomberg.com
The intrigue is high. If a too-big-to-fail bank’s traders were able to make money every day of a quarter, were they really trading in any normal sense of the word? Or would vacuuming be a more accurate term? What kinds of risks do such incredible profits entail, for the banks and the rest of us taxpayers? And are results such as these too good to be true?
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Comments:
tvsterling at 23:28 2010-05-14 said:
If I had the 'Luck' that these megabanks seem to have at my local Indian Casino I would be over there playing (& winning) right now. My answer to the Why? Question is 1- they can & 2- They feel secure in predicting that they can get away with it. I think they may have made a miscalculation because they are such an insular group. 1- Congress & the President cannot afford to indulge them. All of them Republican & Democrat alike are hanging by a thread. 2- The integrity of the whole system is called into question. The implication is that widows & orphans are just so many feeder fish with no real chance at an honest return. If the government is forced to choose the banksters will find themselves out in the cold. It's a matter of simple survival then. The final argument that, "It's all for the good of the country", is wearing mighty thin. Permalinkadd a comment | go to forum thread
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