Title: Mcgowanjm Wire 2012 Source:
[None] URL Source:[None] Published:Feb 26, 2012 Author:Various Post Date:2012-02-26 09:15:13 by A K A Stone Keywords:None Views:1479364 Comments:2390
Here is the good news: we are 100.4% certain JPM was the ONLY prop trading bank to be massively, massively short IG9-18 into this epic blow out. Because if other had suffered billion dollar losses, they would all pull a Jamie Dimon and fess up. Right?
Warning: This commentary is not for the faint of heart.
I thought I'd start this particular Monday morning, May the 14th, with a little rant. Sometimes it helps to ditch the uber-rational, cool-headed analysis and remind people just how screwed up things are on this third toxic landfill from the Sun.
So what happens when a major retailer hires a CEO away from a personal electronic conglomerate who has no experience in retail? This, as reported by Market Watch: J.C. Penney Co. said on Tuesday that it swung to a first-quarter loss of $163 million, or 75 cents a share, from a profit of $64 million, or 28 cents, a year earlier. Sales fell 20% to $3.15 billion. On an adjusted basis, the company said it lost 25 cents a share. Analysts surveyed by FactSet estimated the Plano, Texas-based company to lose 1 cent a share on sales of $3.45 billion. Comparable store sales tumbled 19%, also missing estimates.
The problem with bank runs is that once they start, they don't stop.
Look forward to not hearing a WORD about any bank runs anywhere.
Except for maybe our closest colonies....and there will have to be video....
like say the Brits...
"Machine-guns will for the first time be toted by guards on the London tube. Police special forces, "trained to kill", will wear balaclavas to avoid identification. There are to be naval landing craft roaming the coast off Weymouth and submarines at the ready. The Olympics have become a festival of the global security industry, with a running and jumping contest as a sideshow. No one in government dares call a halt. Nero in his prime could not have squandered so much money on circuses.
O Boy! Walking past Mask wearing Mercs with shoot to kill mentality on the way to Fun& Games....
