NP - Structural w/ Austerity or Demand-Lack w/ Stimulus?

[rich]

and if I'm not mistaken they lost money in what Dimon said was normal
hedging but the hedging (which one is supposed to do to leverage other
more risky investments) was speculating on what other speculators
thought about a group of 121 or so companies. thats hardly rational
leveraging in my book but proves ever again the meta-mystical nature
that continues post-crash to be labelled modern finance. alice would
agree--we're back to alchemy ladies and gents

rich

On Fri, May 11, 2012 at 4:41 PM, David Morris <fqmorris at gmail.com> wrote:
> BTW, my bad, I meant the roof over JP Morgan, ya know?  The company
> that just reported this structural fubar (ya wanna talk about
> structure?):
>
> On a conference call with analysts, JP Morgan CEO Jamie Dimon
> announced that his firm had lost $2 billion investing in the same
> species of derivative that exacerbated the 2008 financial crisis.
>
>
> On Fri, May 11, 2012 at 3:20 PM, David Morris <fqmorris at gmail.com> wrote:
>> At least you got that one.
>>
>> On Fri, May 11, 2012 at 3:16 PM, Erik T. Burns <eburns at gmail.com> wrote:
>>> Sorry to disappoint.
>>>
>>>
>>>
>>> On May 11, 2012, at 9:07 PM, David Morris <fqmorris at gmail.com> wrote:
>>>
>>>> You must be a genuine Genius.
>>>>
>>>> On Fri, May 11, 2012 at 3:03 PM, Erik T. Burns <eburns at gmail.com> wrote:
>>>>>
>>>>>
>>>>> The roof is a metaphor.
>>>>>
>>>>> On May 11, 2012, at 9:01 PM, David Morris <fqmorris at gmail.com> wrote:
>>>>>
>>>>>> Do you mean the roof keeping Goldman Sachs high and dry?
>>>>>>
>>>>>> On Fri, May 11, 2012 at 2:53 PM,  <eburns at gmail.com> wrote:
>>>>>>> The argument is between papering over cracks in the ceiling and then doing it again (and over and over) every time it rains, or ripping the roof off and putting up a new one.