According to this Roubini guy, whoever the fuck he is...
http://finance.yahoo.com/tech-ticker...dman%2C-Morgan
http://finance.yahoo.com/tech-ticker...dman%2C-Morgan
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"In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell -
bullshit
exactly those two are going nowhere.
both ARE making money
GS is down only 19% the past 52 weeks
S&P is down 4% less than that
summing it up
not gonna happen
MS maybe... GS and JPM are here to stay
i would bet everything i own on that -
JP Morgan owns the reserve... they print their own money...Comment
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Glad to see someone knew this on gfy =)
http://www.youtube.com/watch?v=_dmPchuXIXQ (Watch all 5 Parts)
For those interested on the background of the federal reserve and how deep it goes...
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They are all going to go man. None of the major ones can stay afloat without someone buying them out. They are better off selling now instead of doing what Lehman and Bear did and wait till it's too late.
Reports are that Goldman will report over a 70% drop in earnings while JP over 40%. The biggest worry is how much exposure these guys had to Lehman and Merrill.Comment
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i am not sure about your background but i have a financial background
i know goldman
GS and JPM are healthy... fuck... even if earnings drop 70%
they are BY NO MEANS comparable to BS or Lehman
look at JPM
they outperformed the SPX by over 10% this year the last time i checkedComment
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oh and JPM is trading at over 130bn mcap
i dont see another bank buying them out lolComment
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anyone know the deal with Morgan Stanley?Comment
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Who's the GFY rocket scientist "with a financial background" who says that a financial institution with a positive cash flow can't be bought out during hard times?
It has nothing to do with cash flow, you must have gotten your diploma in a chocolate box. Oh wait, you must be one of those ex mortgage brokers who made a quick buck selling loans to disabled Americans, the elderly, individuals suffering from cancer, Hispanics and African Americans all over the country.Last edited by xmas13; 09-15-2008, 12:21 PM.ICQ 557504926Comment
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Not the only one predicting this.
Independent Investment Banks `Won't Exist' CIBC's Nesbitt Says
By Doug Alexander
Sept. 15 (Bloomberg) -- The failure of Lehman Brothers Holdings Inc. shows that investment banks need the backing of a consumer bank to survive, said CIBC World Markets Chief Executive Officer Richard Nesbitt.
``I don't think around the world there's any place for a large investment bank unless they're part of a commercial bank,'' Nesbitt told investors at a conference in Toronto today. ``I don't think they'll exist, except for the very, very tiny investment dealers.''
In the biggest reshaping of the financial industry since the Great Depression, two of Wall Street's most storied firms, Merrill Lynch & Co. and Lehman Brothers, headed toward extinction today. Lehman filed for bankruptcy protection and Merrill Lynch was bought by Bank of America Corp., the largest consumer bank in the U.S.
``It's an actual evolution of the business,'' Nesbitt said. Investment banks will continue to shrink, and focus more on their domestic market, while trying to provide services to their consumer-banking clients, he said.
``There are a number of activities that won't make sense for banks to do anymore,'' said Nesbitt, who heads the investment- banking unit at Canada's No. 5 bank. ``The profit margin is not going to be there unless the pricing goes up or the funding costs come down.''
http://www.bloomberg.com/apps/news?p...U&refer=canadaComment
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I'd take that bet. JP Morgan will be here in 10 years "as is". Did Roubini really say that specifically about JPM?
skype = "adultdatelink"Comment
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JPM is making $70 billion / year.Comment
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the US government goes to JPM when they need help. I think they'll be ok.I died.Comment
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Goldman isn't into the mortgage biz and Sumitomo owns a large block of their stock. I don't see them going anywhere.Comment
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LOL next thing you know Berkshire Hathaway will be rumored to file Chapter 7
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Washington Mutual is the next to go under.... and will probably be bought by JPMCComment
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This discussion is silly. JPM and GS are rock solid and are the ones being sought to advance the sale of parts of AIG. Just because profits drop year-on-year doesn't mean that they aren't doing well. Especially when you consider that they are outperforming everyone else. Rest easy; those two are well run. Plus, JPM is pumped by the consumer business of Chase and the best Asset Management in the business. There's no worries there. In fact, the only things that they might have happening is the long-rumored purchase of WaMu.Comment
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Also, they can't be sold. There aren't companies large enough to buy them.Comment
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People still don't know that the Federal Reserve is privately owned? C'mon now guys... get with it...
You should read what many Congressmen and Woodrow Wilson said about the Federal Reserve in 1913...
This coming depression is being orchestrated so the same ol' elite powerful pricks can clean house for pennies on the dollar as usual. This time we might even be in for a new currency.Comment
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Anyone with financial background have thoughts on this article:
http://www.alternet.org/workplace/98...f_lehman_bros/
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I thought it was quite interesting, but would love someone with more insight to comment.email: [email protected]Comment
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Check out what Charles August Lindbergh (father of aviator Charles Lindbergh) had to say about the Federal Reserve while he was a congressman in that time:
"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President (Woodrow Wilson) signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill."
"The financial system [...] has been turned over to the Federal Reserve Board. That board administers the finance system by authority of [...] a purely profiteering group. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money."
"To cause high prices, all the Federal Reserve Board will do will be to lower the rediscount rate..., producing an expansion of credit and a rising stock market; then when ... business men are adjusted to these conditions, it can check ... prosperity in mid career by arbitrarily raising the rate of interest. It can cause the pendulum of a rising and falling market to swing gently back and forth by slight changes in the discount rate, or cause violent fluctuations by a greater rate variation and in either case it will possess inside information as to financial conditions and advance knowledge of the coming change, either up or down. This is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money. They know in advance when to create panics to their advantage, They also know when to stop panic. Inflation and deflation work equally well for them when they control finance."
And this is only a few quotes from one man. Look into the Federal Reserve Act of 1913 and the people who opposed it and you should start to understand what is going on. Even Wilson himself spoke out about the traitorous Federal Reserve.Comment
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"Mr. Speaker, we are here now in chapter 11. Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth hopefully, a blueprint for our future. There are some who say it is a coroner's report that will lead to our demise."
March 17, 1993 Rep. James Traficant, Jr.Comment
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