Cheery picture. I was reading about something today ( http://m.cnbc.com/id/47419011 ) about how a Greek debt payment was due next week. Here's the kicker - usually those payments have the legal language of if the payment is more than 7 days late, then that specific payment is in default.
But...
"Controlled demolition mode" indeed.
The Chinese sovereign fund had stated it will no longer buy European debt.
Greek youth unemployment is up, industrial production down.
French economic output slumped unexpectedly.
Germany states that a hard Greek default is possible, and that it will...
Yeah, the MP skit was about spam.
I want to do a ham and white bean soup with it, the devilled ham sounds good.
May also try a ham / rice thing that my wife likes when I do it with sausage.
http://n.pr/JpJSCK
Heads are rolling, resignations have started (including the chief investment officer), and losses may exceed 4 billion.
But no mention of changing the way JPM or other TBTF banks do business.
Nice!
The ham came out ok, the glaze was really simple and good. Downside is that we now have a ton of ham leftover.
Reminds me of the old Monty Python skit:
For leftovers, we have ham, ham, ham, ham, ham, ham, baked beans, and ham.
I want to tell all of the stockholders, the market, and the public that while we have lost 2 billion in the last 6 weeks, we are all very embarrassed by this, and JP Morgan will return to profitability shortly. After all, 2 billion is pocket change for JPM. Why, just the other day, I was having...
I know, I almost couldn't type the part about Glass Steagall. I think there was a very narrow opportunity to force the banks to do this, but that opportunity was lost under Geithner's "Do no harm" philosophy during the crisis.
What this crisis confirmed to me was that the Volker Rule doesn't...
http://www.latimes.com/business/la-fi-0511-jpmorgan-chase-20120511,0,4625412.story
The CNBC story here: http://www.cnbc.com/id/47377555
A few thoughts.
If this doesn't demonstrate that the derivatives market (a closed and opaque market) presents a real and present threat to the nation's...
JTS - its interesting that both austerity incumbents were defeated (Greece and France) over the weekend. It appears that the general populace is rejecting austerity in general, which may have profound effects on the EU. Do you think France will continue to partner with Germany, or do you think...
Spain to bailout 4th largest bank at an estimated cost of 5 to 10 billion Euros.
The interesting part is that the Spanish PM has previously stated that such bailouts would not be used unless there was systemic risk...
Parts of the midwest and south still have a strong economy. Texas is one, the Dakotas are another, Wyoming a third, parts of Arkansas and Oklahoma, all have been bucking the national trend. I know a fair amount of people who left Vegas for these parts with job offers in hand.
Nothing like...