Friday, Oct 17, 2008
JPMorgan will require fresh asset meat every several weeks in order to survive
Market Oracle: JPMorgan Responsible for the Destruction of U.S. Financial System
The tag team of JPMorgan as the monster and Goldman Sachs as its harlot represent a powerful pair that is more responsible for destroying the entire US financial system than 95% of the American public has any awareness. The colossus of JPMorgan is a monster, a predator, nurtured by pond scum. It has gobbled up Chase Manhattan, Manufacturers Hanover, Chemical Bank, Bank One, and more over the past two decades. Their profound presence in keeping the USTreasury Bond yields down can never be understated. They do so by managing 85% of the credit derivatives on the planet. They distorted usury prices, as in price of borrowed money, thus aggravating the LIBOR (London InterBank Offered Rate) market in a very visible manner.
Jim Willie - hot and angry
4 Comments
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1. charlie brooker said...
"Jim Willie - hot and angry"
Great journalism. As Marc Almond allegedly once said : "You can't beat a hot willie"
2. fancypants said...
Lol!
3. malct said...
charlie - no possibility your comment re mark almond was somehow inspired by the article title I suppose?
I was sort of hoping someone might pick up on the claim that JPM manage 85% of the credit derivitives, surely not?
4. Cityboy said...
I think you will find Chemical Bank bought Chase and then bought JP Morgan. They kept the JP Morgan name as it is a bigger name.