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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 18 May 2012 [View all]Demeter
(85,373 posts)79. What Did JPMorgan Execs Know and When Did They Know It?
http://www.propublica.org/thetrade/item/what-did-jpmorgan-execs-know-and-when-did-they-know-it
...The first lesson is that when they are in trouble, banks will mislead the world about their financials. And some will lie. Richard S. Fuld Jr. of Lehman Brothers, E. Stanley ONeal and Charles O. Prince of Citigroup all played down their banks exposures before their institutions took vast losses. Were they deliberately misleading? Because of the failures to investigate the financial crisis adequately, we still dont know.
But we do know that when banks hide their problems, they metastasize and can hurt the economy.
So before we move on to other vital discussions about tightening the Volcker Rule, preventing the rollback of Dodd-Franks derivatives provisions, whether these banks are Too Big to Manage and more we need to go back to the basics:
What did Jamie Dimon, the banks chief executive, and Doug Braunstein, the chief financial officer, know and when did they know it? Were JPMorgans first-quarter earnings accurate? Were top JPMorgan officials misleading when they discussed the chief investment offices investments?
MORE
...The first lesson is that when they are in trouble, banks will mislead the world about their financials. And some will lie. Richard S. Fuld Jr. of Lehman Brothers, E. Stanley ONeal and Charles O. Prince of Citigroup all played down their banks exposures before their institutions took vast losses. Were they deliberately misleading? Because of the failures to investigate the financial crisis adequately, we still dont know.
But we do know that when banks hide their problems, they metastasize and can hurt the economy.
So before we move on to other vital discussions about tightening the Volcker Rule, preventing the rollback of Dodd-Franks derivatives provisions, whether these banks are Too Big to Manage and more we need to go back to the basics:
What did Jamie Dimon, the banks chief executive, and Doug Braunstein, the chief financial officer, know and when did they know it? Were JPMorgans first-quarter earnings accurate? Were top JPMorgan officials misleading when they discussed the chief investment offices investments?
MORE
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interesting and even more interesting cameron said they couldn't back off of it.
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It's fallen below $40...back to initial IPO of $38. and NASDAQ can't even execute buy/sell orders!!
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bunch of last-minute buying. S&P was -1.00% 2 min. ago. Now it's only -0.74%.
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