JPMorgan Chase Loses $2 Billion On Bad Bets

Might be a good time to buy JP Morgan Chase since stock price is down.

Heard one report on the radio that the 2 billion dollar bet was actually supposed to be a hedge against some other investments going south. Whoops!

Well, President Obama gave JP Morgan a great endorsemet yesterday even though he has a lot of money with them...

Maybe it's a case of putting your mouth where your money is.

President Barack Obama praised JP Morgan Chase in an interview recorded Monday as "one of the best managed banks there is" and its CEO, Jamie Dimon, as "one of the smartest bankers we got." On Tuesday, the White House made public financial disclosure forms showing the president and First Lady Michelle Obama had between $500,001 and $1,000,000 in a "JP Morgan Chase Private Client Asset Management Checking Account."

The annual peek into the Obamas' finances showed that the president held between $1,000,001 and $5,000,000 in U.S. Treasury Notes, generating between $5,001 and $15,000 in interest. They also held between $500,001-$1,000,000 in Treasury Bills.

Obama, who recently said he had only paid off his student loans eight years ago, has been doing pretty well by daughters Sasha and Malia: The disclosures show four college savings accounts each with between $50,001 and $100,000 in them.

Then again, he's invested in US Tresuries with them and the big loss may not effect him... yet. But I'm sure those who may eventually be hurt with the loss will feel better about his endorsement.

http://news.yahoo.com/blogs/ticket/obama-financial-forms-show-big-jp-morgan-account-213119081.html

Calling OWSrs....are you still around?

How sweet...You got to use "Obama" in a sentence--which had nothing to do with Jamie Dimon & JPMorgan's fiasco...

But you keep trying...

LadyJazzer wrote: How sweet...You got to use "Obama" in a sentence--which had nothing to do with Jamie Dimon & JPMorgan's fiasco...

But you keep trying...

I guess you can't read, of course my post had to do with Jamie Dimon and JP Morgan...

President Barack Obama praised JP Morgan Chase in an interview recorded Monday as "one of the best managed banks there is" and its CEO, Jamie Dimon, as "one of the smartest bankers we got."

And if you don't think it's significant that Obama praised Dimon while you bash him, just keep your head in the sand.

pineinthegrass wrote:

LadyJazzer wrote: And if you don't think it's significant that Obama praised Dimon while you bash him, just keep your head in the sand.

Please.

Wish you'd get your "Quote" skills down... I didn't say that...

Editorial cartoon today in the Post. Uncle Sam "2 billion? I add that in debt every day.

pineinthegrass wrote:

LadyJazzer wrote: How sweet...You got to use "Obama" in a sentence--which had nothing to do with Jamie Dimon & JPMorgan's fiasco...

But you keep trying...

I guess you can't read, of course my post had to do with Jamie Dimon and JP Morgan...

President Barack Obama praised JP Morgan Chase in an interview recorded Monday as "one of the best managed banks there is" and its CEO, Jamie Dimon, as "one of the smartest bankers we got."

And if you don't think it's significant that Obama praised Dimon while you bash him, just keep your head in the sand.

When Obuma praises Dimon it just shows how stupid he really is. And one more reason, amongst thousands, why he needs to be voted out of office.