Friday, October 17, 2008

Someone quickly legislate this guy into oblivion


This is the kind of thing that makes me mad. The head of JPM goes on and says "we will not lend the money the govt has given us".

THEN WHY THE FUCK DO WE GIVE IT TO YOU IN THE FIRST PLACE YOU STUPID M@THERFXCKER?

In his defense he is protecting the interests of his shareholders and this is another reason I am slowly gravitating towards the opinion that

BANKS CANNOT BE PUBLICLY OWNED ENTITIES.

And in my own paranoid opinion, one of the big reasons we are in this mess in the first place.

8 comments:

douglas dooley said...

marcf,

in an effort to get to first principles or whatever that may mean, explain something to me:

how does credit become such a big deal, anyway? here are the scenarios under which i think we need bank lending, but maybe as a former CEO, you could explain the real nature of the need for liquidity to business:

- governments need to borrow in accordance with planned tax receipts, so they can conduct operations before receiving said receipts...

- businesses need to operate in the "commercial paper" market for about the same reason, that they have a reasonable expectation of income, but they need to spend before all said income comes in...

- small businesses grow on the expectations that they have capital to invest in equipment that will yield higher returns than original investment costs...

- everything else seems to me to be arbitrage, in that it is all high-risk, like borrowing to pay for current debts, in other words businesses are constantly rolling over old debt on to new debt...

i guess what i am getting at is:

outside of covering your a*s from previous debts, why does the global economy need such extended levels of liquidity that we have experienced up until this crisis?

you know what i am saying?...

Marcf said...

douglas,

yes I think that all the reasons you mention are valid economic cases where debt is good. Debt is needed for the economy to grow and without debt, we are now finding that the economy does sputter a bunch. There are stories of cargoes being delayed because they cannot get the debt. So debt for economic creation is a good thing. We also know that too much debt, will create too much bad debt and that can choke capital. Too much bad debt will pose many problems, see right now. So, at a high level it seems we want to use just enough to debt to maximize economic creation but not so much that it can wipe out capital.

After the 30's, the ratio of capital to debt was set at 10-12.

However the investment banks, backed by a lenient FED started printing debt like there was no tomorrow. Repackaging sub-prime mortgages as AAA securities and getting the cash back so they could recycle quickly.

The 'milieu' has proven completely incapable of self-regulation and did press the paddle one too many times. Essentially the system would feed the goose until the goose died.

The goose died.

So we now know that debt levels like the ones I show in the other posts are LETHAL to any well formed economy. So it's not 10, it's not 50, it's probably 30?

Alef said...

I'd say create one class of banks that is highly regulated and safe for Joe the Plumber to put his money. Everything such a bank does should be transparent. Possibly going public wouldn't be possible for such banks. The traditional savings bank that cannot trade in securities, derivatives, et cetera.

Then a second class of banks that can do whatever they want (obviously with a bit of regulation maybe). This would quickly drive all risk-averse people to the first class of banks. A bit like the former investment banks.

We need a new financial order...

Marcf said...

yeah we need a new financial order.

One will emerge, by definition of the markets. Any guesses as to what that can be are interesting.

Pools of money everywhere.

Anonymous said...

本土成人貼圖站大台灣情色網台灣男人幫論壇A圖網嘟嘟成人電影網火辣春夢貼圖網情色貼圖俱樂部台灣成人電影絲襪美腿樂園18美女貼圖區柔情聊天網707網愛聊天室聯盟台北69色情貼圖區38女孩情色網台灣映像館波波成人情色網站美女成人貼圖區無碼貼圖力量色妹妹性愛貼圖區日本女優貼圖網日本美少女貼圖區亞洲風暴情色貼圖網哈啦聊天室美少女自拍貼圖辣妹成人情色網台北女孩情色網辣手貼圖情色網AV無碼女優影片男女情色寫真貼圖a片天使俱樂部萍水相逢遊戲區平水相逢遊戲區免費視訊交友90739免費視訊聊天辣妹視訊 - 影音聊天網080視訊聊天室日本美女肛交美女工廠貼圖區百分百貼圖區亞洲成人電影情色網台灣本土自拍貼圖網麻辣貼圖情色網好色客成人圖片貼圖區711成人AV貼圖區台灣美女貼圖區筱萱成人論壇咪咪情色貼圖區momokoko同學會視訊kk272視訊情色文學小站成人情色貼圖區嘟嘟成人網嘟嘟情人色網 - 貼圖區免費色情a片下載台灣情色論壇成人影片分享免費視訊聊天區微風 成人 論壇kiss文學區taiwankiss文學區

Anonymous said...

本土成人貼圖站大台灣情色網台灣男人幫論壇A圖網嘟嘟成人電影網火辣春夢貼圖網情色貼圖俱樂部台灣成人電影絲襪美腿樂園18美女貼圖區柔情聊天網707網愛聊天室聯盟台北69色情貼圖區38女孩情色網台灣映像館波波成人情色網站美女成人貼圖區無碼貼圖力量色妹妹性愛貼圖區日本女優貼圖網日本美少女貼圖區亞洲風暴情色貼圖網哈啦聊天室美少女自拍貼圖辣妹成人情色網台北女孩情色網辣手貼圖情色網AV無碼女優影片男女情色寫真貼圖a片天使俱樂部萍水相逢遊戲區平水相逢遊戲區免費視訊交友90739免費視訊聊天辣妹視訊 - 影音聊天網080視訊聊天室日本美女肛交美女工廠貼圖區百分百貼圖區亞洲成人電影情色網台灣本土自拍貼圖網麻辣貼圖情色網好色客成人圖片貼圖區711成人AV貼圖區台灣美女貼圖區筱萱成人論壇咪咪情色貼圖區momokoko同學會視訊kk272視訊情色文學小站成人情色貼圖區嘟嘟成人網嘟嘟情人色網 - 貼圖區免費色情a片下載台灣情色論壇成人影片分享免費視訊聊天區微風 成人 論壇kiss文學區taiwankiss文學區

Anonymous said...

85cc免費影城 愛情公寓正妹牆川藏第一美女 成人影片 情色交友網 美女視訊 美女視訊 視訊情人高雄網 JP成人影城 383成人影城 aa片免費a片下載 a片線上看aa片免費看 ※a片線上試看※sex520免費影片※ aa片免費看 BT成人論壇 金瓶影片交流區 自拍美女聊天室 aa片免費a片下載 SEX520免費影片 免費a片 日本美女寫真集 sex520aa免費影片 sex520aa免費影片 BT成人網 Hotsee免費視訊交友 百分百貼影片區 SEX520免費影片 免費視訊聊天室 情人視訊高雄網 星光情色討論版 正妹牆 383成人影城 線上85cc免費影城 85cc免費影城 85cc免費影城 85cc免費影城 ※免費視訊聊天室※ ※免費視訊聊天室※ 免費視訊聊天室 85cc免費影片 85cc免費影片 080苗栗人聊天室 080苗栗人聊天室 080中部人聊天室 080中部人聊天室 免費a片下載 免費a片 AA片免費看 aa片免費看 aa片免費看 aa片免費看 aa片免費看 日本av女優影片 av女優 av女優無碼影城 av女優 av女優 百分百成人圖片 百分百成人圖片 視訊情人高雄網 電話交友 影音電話交友 絕色影城 絕色影城 夜未眠成人影城 夜未眠成人影城 色咪咪影片網 色咪咪影片網 色咪咪影片網 色咪咪影片網 色咪咪影片網 免費色咪咪貼影片 免費色咪咪貼影片 色情遊戲 色情遊戲 色情遊戲 色情遊戲 影音視訊交友網

Anonymous said...

視訊交友網 080視訊聊天室 ※免費視訊聊天室※ ※免費視訊聊天室※ 視訊聊天室 成人影音視訊聊天室 ut影音視訊聊天室 ※免費視訊聊天室※ 視訊ukiss聊天室視訊ukiss聊天室 視訊交友90739 視訊交友90739 情人視訊網 168視訊美女 168視訊美女 168視訊美女 視訊美女館 視訊美女館 免費視訊美女網 小高聊天室 小高聊天室 aio交友聊天室 aio交友聊天室 交友聊天室 交友聊天室 線上a片 線上a片 線上a片 線上a片 線上a片 免費線上a片 免費線上a片 嘟嘟成人網站 成人漫畫 情色文學 嘟嘟成人網 成人貼圖區 情色文學成人小說 微風成人區 情色貼圖區 免費視訊聊天 免費成人圖片區 愛情公寓 愛情公寓聊天室 寄情築園小遊戲 免費aa片線上看 aa片免費看 情色SXE聊天室 SEX情色遊戲 色情A片 免費下載 av女優 俱樂部 情色論壇 辣妹視訊 情色貼圖網 免費色情 聊天室 情人視訊聊天室 免費a片成人影城 免費a片-aa片免費看 0204貼圖區 SEX情色 交友聊天-線上免費 女優天堂 成人交友網 成人情色貼圖區 18禁 -女優王國 080視訊美女聊天室 080視訊聊天室 視訊交友90739 免費a片 aio 視訊交友網 成人影城-免費a片※免費視訊聊天※85cc免費影片日本線上免費a片 免費色咪咪影片免費色咪咪影片aaa片免費看影片aaa片免費看成人影城情人視訊高雄網sex520免費影片080聊天室080聊天室aa的滿18歲影片免費av18禁影片免費av18禁影片免費av18禁影片aa的滿18歲影片聊天室ut愛情公寓尋夢園聊天室