This is pretty big so I thought it deserved its own thread. Former FDIC Chairwoman Sheila Bair calls for the break-up of JP Morgan Chase in the June 11 issue of Fortune Magazine, comparing Jamie Dimon to a chicken cornered in the coop and being pecked to death by the other chickens:
http://finance.fortune.cnn.com/2012/05/25/jp-morgan-chase-breakup/
| +89 | Zoomers are doing life wrong | 28 | 1d | |
| +70 | GF doesn’t care about her looks | 46 | 3h | |
| +39 | Insurance as High Finance? | 10 | 1d | |
| +37 | 400k/year in HVAC sales? | 26 | 8h | |
| +36 | Affair with my Associate… In Desperate Need for Advice | 21 | 6h | |
| +32 | Would you rather live alone in an outer borough or with roommates in Manhattan? | 23 | 1d | |
| +31 | Framed Photo of CEO on desk. | 16 | 1d | |
| +24 | BO -> ??? | 14 | 5d | |
| +23 | Why do people listen to Jim Cramer Investing Advice? | 9 | 2h | |
| +22 | When do you plan to buy your first house and how much do you expect to spend? | 24 | 20h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Eddie,
While I dislike Shelia Blair, I do think that she is right here - breaking up JP Morgan wouldn't be a bad thing. I do think that she's on to something with how she wants to have everything on hand and easily accessible in the event that JPM is either broken up or goes bankrupt. I'm not going to lie here but having a full list of reporting entities, operating partners, etc. makes far more sense especially for a firm of that size. The one thing that I'm surprised about though is that Shelia Blair didn't ask for Glass Stegal to be reinstated. You'd figure that this would be the first step to protect people from a potential JP Morgan breakup/bankruptcy.
Frieds, Patrick and I are on Gchat saying the same thing right now, lol.
Not shocked at all man. Not shocked at all.
Election year rhetoric.
Moving along...
Brian Moynihan is somewhere with a shit eating Grin on his face....Its JPM turn to be in the headlines for the next 3 months. The key is who is next
Birth Certificate LLC after that....again
I for one support our new bank overlords
Glass should be reinstated
All wall street does is pull bright people from top schools to jobs that barely if at all benefit the economy and advancement of the human race
The same should be done to shittygroup.
This will actually benefit the departments that are making $... and the taxpayers won't have to potentially bail out the firm because of a loser unit. Finally we would practice capitalism.
Laboriosam qui velit maiores. Necessitatibus autem esse non velit possimus. Fugiat et molestiae dicta odio odio ad quae. Qui maxime quae laboriosam.
Consequuntur perspiciatis voluptatem dolorem quod sint non laboriosam. Magnam quia aut sint dolores at. Alias at explicabo nihil est dicta ut nobis. Aliquam libero praesentium est facilis. Sed soluta occaecati quibusdam veniam minus occaecati. Numquam maiores non qui dolorem et voluptate qui blanditiis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...