JP Morgan reduced their derivatives exposure from $89 trillion to $79 trillion...hey with the blowups of Bear and Lehman and the bailout of AIG alone that was going to consolidate the JPM Derivatives book. They did not reduce 10 trillion with open market sales. JPM would have lost 3 trillion doing that and Jamie Dimon would not have gotten bonus. JPM's leverage ratio (without off balance sheet entities and without recently changed FASB accounting rules would be through the roof) - with this simple analysis their leverage ratio is 48:1.
Goldman Sachs is apparently an authorized arm of the Federal Reserve Bank with direct access to the digital money printing press therefore they can be afforded a leverage ratio of 457:1.
Please keep in mind that we have sanctioned totally fraudulent accounting rules. These leverage ratios are much higher in reality.
Do you think the Obama financial regulation, oversight and reforms are rewarding success or failure? Clearly, Obama is a disaster as are his henchmen and his boss Ben Bernake. What's the take away? If you are a failure, how about a promotion? or a raise? or a new appointment?
Moreover, this is not about finance...it about freedom, rights, war and the future for our children.
“money first, then the deal” Rahm Emanuel reportedly barked at a recent industry caller discussing business possibilities for him in the private sector...The administration works for the finance industry not for citizens of the United States of America.
Moreover, this is not about finance...it about freedom, rights, war and the future for our children.
