Dimon rallies the House of Morgan

[y66]

Good story here

 

Love the comeback-kid part and the idea that someone who has been astute enough to fend off subprime mortgage losses in his own company is now seizing the day.

 

“Wall Street has traditionally not had strong leadership in times like this,” Charles Geisst, a Wall Street historian at Manhattan College, told The Times. “This is the first time someone has stepped up and offered to solve a problem, even if it will cost Bear Stearns dearly. And making a few bucks on the leadership is in the Morgan tradition as well.”

[Codo]

Yes what a great story.

 

There is a bankrupt bank because their manager had been idiots.

 

Now another manager buys the shares for 2 $ each, which had been sold last week for 30 $s.

Maybe James Dimon is worth his money, but I doubt that he is to praise. He just does his job. Like anyone else should do.

 

You should condem the stupid guys who had been responsible for this disaster and don't praise soemone who is doing his job for his billions of dollars earnings.

[mycroft]

oh, and got the government (who it seems shouldn't be in the business of building hospitals, but it's okay to keep failing companies (including the health care companies) alive, it seems) to back all the losses.

 

At least when I played with house money, I had to give half my winnings back to the house. GG, if you can get it.

[y66]

Protecting your stockholders by getting the bank of last resort to cover the riskiest part of the deal ? Love that part too.