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I suspect the OP made a typo, but really meant by "February 1908" the Panic of 1907 was over.
__________________ "Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
Big difference is that in 1907 there was no Fed. That's why JPMorgan ended up bailing out banks (at a price).
But in one way or another, it seems like JP Morgan remains involved in the bailouts...
__________________ "Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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Join Date: Mar 2003
Posts: 10,537
Quote:
Originally Posted by ziggy29
But in one way or another, it seems like JP Morgan remains involved in the bailouts...
At least in the case of BSC, I think JPM was just the handmaiden of the Fed. Heck, the fed bacsicaly gave JPM a gift of potentially billions of dollars of filthy lucre.
Wonder what it will eventually cost them when the Fed calls its mark in?
At least in the case of BSC, I think JPM was just the handmaiden of the Fed. Heck, the fed bacsicaly gave JPM a gift of potentially billions of dollars of filthy lucre.
Wonder what it will eventually cost them when the Fed calls its mark in?
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2003
Location: north of Kansas City
Posts: 6,379
Old JP better keep paying me my dividends or I will call them on the phone and cuss em out - I need the money/rumor has it Dick's sporting goods may have a big Kayak sale later this spring!
Petty cash, catching falling knives from greater and and greater height's could get very interesting!
Fear, lust, greed, passion - told ya it's the hormones!
Soooo - I add to my JPM and BAC or give it a few month's for the dust to settle?
heh heh heh - this is better than picking the sweet 16 or final 4! .
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Join Date: Aug 2006
Posts: 9,546
Quote:
Originally Posted by brewer12345
At least in the case of BSC, I think JPM was just the handmaiden of the Fed. Heck, the fed bacsicaly gave JPM a gift of potentially billions of dollars of filthy lucre.
Wonder what it will eventually cost them when the Fed calls its mark in?
It's a nostalgia thing, going back to JPM himself..............
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
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"There's those thinkin' more or less, less is more, but if less is more, how you keepin' score?
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Join Date: Aug 2006
Posts: 9,546
Quote:
Originally Posted by brewer12345
If you think Mr. Dimon is the sentimental type, I think you may wish to reconsider.
No, Jamie Dimon either learned at the lap of Sandy Weill (politically correct) or was the whiz kid that figured out how to form Citi and get the govt to eradicate Glass-Steagall to make it happen (my guess)..............
I worked at Bank One and Chase, I know a LOT about Jamie Dimon.........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
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Join Date: Apr 2003
Location: Hooverville
Posts: 11,357
Quote:
Originally Posted by brewer12345
Big difference is that in 1907 there was no Fed. That's why JPMorgan ended up bailing out banks (at a price).
A very clear article about how Fed actions address liquidity concerns, and market psychology, but do not accept the ultimate value risk in the assets being pledged as collateral.
A very clear article about how Fed actions address liquidity concerns, and market psychology, but do not accept the ultimate value risk in the assets being pledged as collateral.
I read Hussman every week, I think he is credible and informative. I suppose some don't like him because he thinks you can time the market based upon valuation and market internals. His record has not been too good lately. I do like his articles though.
Let's see. The Fed will have to bail out Lehman next.
Who after that? Citibank?
Any thoughts?
Brewer?
__________________ Consult with only myself as your adviser or representative. My thoughts should be construed as investment advice of the highest caliber. Past performance is but a pale shadow and guarantee of even greater results in the future.
Disclaimer: I make no warranty or guarantee about the accuracy or completeness of this information. I am not a financial planner, my comments only represent my opinion.
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