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Off-Topic Stock Market & Crypto Discussion

mr.h said:
I remember us having a conversation about oversight and regulations. You said that regulations only cause loopholes. If we let banks fail and do not step in, individuals like you and me, our businesses and homes could be lost. What protections would we have without the gov't.? I certainly would not put my money in an unsecured banking system. Do you remember Lehman Bros.?
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If you ever make $250k from the sale of a home, you have unsecured banking. Well it was until SVB! Heck, all secured banking is fractional so don’t for a second believe the bank has everyone’s money.
 

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JPM
  • While Dimon believes the regional banking industry is "quite strong" and the US is nearing the end of this dark tunnel, the country isn't out of the woods just yet and regulators need to be smarter so this doesn't occur again. He said stricter compliance rules and lackluster stress tests are not the way to avoid collapses.
  • Yes, this is same Jaime Dimon that took millions in bonuses after his bank took billions because of his risky investments during the 2008 Great Recession. What a pos.
  • A recent Gallup poll found that only 36% of citizens think he's handling the economic crises well, and 28% said they had almost no confidence in him. It's the lowest confidence rating Gallup has recorded for any Fed Chair since it started asking the question in 2001 when Alan Greenspan led the central banking system.
  • Powell, a Trump appointee that did Trump’s bidding by keeping rates artificially low for too long.
 
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mr.h said:
I remember us having a conversation about oversight and regulations. You said that regulations only cause loopholes. If we let banks fail and do not step in, individuals like you and me, our businesses and homes could be lost. What protections would we have without the gov't.? I certainly would not put my money in an unsecured banking system. Do you remember Lehman Bros.?
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She called for the Fed to engage an independent third party to review the failure on March 10 of Silicon Valley Bank, which she said would supplement a “limited internal review” released by the central bank, at the direction of Mr. Powell, on April 28.

Ms. Bowman also strongly cautioned policy makers against moving forward with a broad revamp of the regulatory framework facing small and regional banks that she said wasn’t likely to be supported by any such reviews.

She warned that new, complex rules could hasten the consolidation of the banking industry and wouldn’t necessarily have prevented the current problems. “The elimination of regional banks from the U.S. banking system would be devastating to businesses and communities across America,” she said.

Instead, she said, policy makers should focus on “remediating known, identified issues with bank supervision and issues that emerge from the public autopsy of these events.”

www.wsj.com

Fed Official Signals Support for Further Rate Increases

Federal Reserve governor Michelle Bowman says there hasn’t been sufficient evidence of a labor market or inflation slowdown.
www.wsj.com www.wsj.com
 
mr.h said:
JPM
  • While Dimon believes the regional banking industry is "quite strong" and the US is nearing the end of this dark tunnel, the country isn't out of the woods just yet and regulators need to be smarter so this doesn't occur again. He said stricter compliance rules and lackluster stress tests are not the way to avoid collapses.
  • Yes, this is same Jaime Dimon that took millions in bonuses after his bank took billions because of his risky investments during the 2008 Great Recession. What a pos.
  • A recent Gallup poll found that only 36% of citizens think he's handling the economic crises well, and 28% said they had almost no confidence in him. It's the lowest confidence rating Gallup has recorded for any Fed Chair since it started asking the question in 2001 when Alan Greenspan led the central banking system.
  • Powell, a Trump appointee that did Trump’s bidding by keeping rates artificially low for too long.
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You missed the key point of the first bullet.

Re the second bullet, the government at the time FORCED all of the big banks to take $25BB each. Most of the big banks needed it, especially Citi. JPM did not need it but had not choice to accept, and the government ultimately made money on all of their capital investments. JPM repaid all of the money back in 8 months. Dimon is probably the best CEO of any bank in the world and of any US company. He is worth every penny.

Re your fourth point, the only accurate statement is that he was a Trump appointee. There was little to no inflation under Trump and then the pandemic hit. Trump was actually upset that he raised rates before the pandemic hit.
 
SpikeUM said:
She called for the Fed to engage an independent third party to review the failure on March 10 of Silicon Valley Bank, which she said would supplement a “limited internal review” released by the central bank, at the direction of Mr. Powell, on April 28.

Ms. Bowman also strongly cautioned policy makers against moving forward with a broad revamp of the regulatory framework facing small and regional banks that she said wasn’t likely to be supported by any such reviews.

She warned that new, complex rules could hasten the consolidation of the banking industry and wouldn’t necessarily have prevented the current problems. “The elimination of regional banks from the U.S. banking system would be devastating to businesses and communities across America,” she said.

Instead, she said, policy makers should focus on “remediating known, identified issues with bank supervision and issues that emerge from the public autopsy of these events.”

www.wsj.com

Fed Official Signals Support for Further Rate Increases

Federal Reserve governor Michelle Bowman says there hasn’t been sufficient evidence of a labor market or inflation slowdown.
www.wsj.com www.wsj.com
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Is consolidating banks a bad thing? Think of the efficiency and cost savings. And Jamie Dimon paid billions in fines, ******** his investors with his risk, then threatened to quit, which would have caused more chaos, then took bonuses. And he’s the best?
BTW he has lost big money with his exposure in Russia….Russia? It’s easy to look **** good when your bank has assets of trillions of dollars.
 
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mr.h said:
Is consolidating banks a bad thing? Think of the efficiency and cost savings. And Jamie Dimon paid billions in fines, ******** his investors with his risk, then threatened to quit, which would have caused more chaos, then took bonuses. And he’s the best?
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Local and regional banks are the backstops of communities, they are hugely important, plus there is less and less competition.

And I have no idea what you are referring to re Dimon.
 
SpikeUM said:
Local and regional banks are the backstops of communities, they are hugely important, plus there is less and less competition.

And I have no idea what you are referring to re Dimon.
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I just added to my last post on Jamie boy. Yes, local banks do help the community, when things are going good. Now they are charging fees up the tuches.
 
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SpikeUM said:
Read the article, Leasing is a loophole around the rules.
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Yes, but from Inside EV’s..
“The Hyundai Motor Group (that includes Hyundai and Kia) announced today its plan to invest $7.4 billion in the U.S. by 2025 to produce future EVs, as well as "enhance production facilities and further its investments in smart mobility solutions.""
The most important point things for us is that both Hyundai and Kia will build American-made battery electric vehicles. Hyundai specifically will begin EV production in 2022”
Jobs for America.
 
From Market Watch today:

There is another headwind for the S&P 500 this week that he and others are watching — May options expiries, with those for the VIX (VIX) set for Wednesday and S&P 500 options for Friday. In each of the last six years, and 11 of the last 14, Krinsky noted that the S&P has been negative during this week, with an average loss of 1.3%.
 
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