HobeSoundDarryl
macrumors G5
Oh, well, if an analyst at J.P. Morgan says it, then it's much less stupid...
J.P. Morgan just settled a case with the Gov for $13 BILLION. In spite of that, the board then gave their CEO a 74% raise. You guys poke all the fun you want at the stupidity of analysts but their companies rule the world.
A few years ago, the core group of them ran the whole financial machine right to the edge of a cliff, got "our" government to immediately find $700 BILLION to bail them out and, that same year, paid themselves record bonuses. How many were prosecuted?
Remember what had them at the brink of collapse- that so-called "worthless paper" (insurance on bad mortgages) that many argued might be worth 10 cents on the dollar at best. What happened to all that paper? Apparently, the FED is using your tax dollars to buy that "worthless" paper to clean up the banker's books. Do you think the FED is paying more or less than 10 cents on the dollar? Do you think the FED is paying 100 cents on the dollar?
Lastly, remember "too big to fail"? That was the reason they had to be bailed out by the U.S. taxpayer (really by "our" government adding a huge loan onto the already-crushing debt). So naturally, once the bail out was successful, all those big banks that were too big were broken up right? Were any of the "too big" broken up?
Again, "stupid analysts" being stupid all the way to the bank.