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93henfan wrote:He said "gelding".

andy7171 wrote:

93henfan wrote:He said "gelding".

Wouldn't it be funny if kalm comes back posting like SuperHorney?

kalm wrote:My nut hurts.

grizzaholic wrote:

kalm wrote:My nut hurts.

I hear drinking helps. Or you could take nice long jog to clear your head.

kalm wrote:

grizzaholic wrote:
I hear drinking helps. Or you could take nice long jog to clear your head.

Tell Ivy to say hello to his boy Jamie Dimon for me. I'm too high on hydro to type.

kalm wrote:My nut hurts.

andy7171 wrote:

kalm wrote:My nut hurts.

I think you should have had both disconnected.

kalm wrote:

andy7171 wrote: I think you should have had both disconnected.

Only got one due to testicular cancer. Doc felt bad for not charging half price but said the insurance company wouldn't accept it.

kalm wrote:My nut hurts.

Here's Jamie

After losing $2.2 billion (and rapidly rising) in mark-to-market losses in credit derivatives, the multi-trillion dollar global product JPMorgan created and claims it manages well, Dimon had the perfect response on yesterday's Meet the Press to straight man David Gregory's question: "How did this happen?"

"First of all, there was one warning signal -- if you look back from today, there were other red flags. That particular red flag -- you know, we made a mistake, we got very defensive and people started justifying everything we did. You know, the benefit in life is to say, 'Maybe you made a mistake, let's dig deep.' And the mistake had been brewing for a while, so it wasn't just any one thing."1

That's so funny I'll bet President Obama blew coffee out of his nose.

The Pay Joke

In 2011, Jamie Dimon got a total pay package of $23 million. Of course, those earnings came on the back of a global financial bailout, Fed enabled mergers that created an insanely big balance sheet, and ongoing cheap financing from the Fed. Meanwhile, U.S. savers get paid virtually no interest on low-risk investments to subsidize the banking system.

Dimon's pay partly depended on reported profitability of the division with the troubled credit derivatives, JPMorgan's Chief Investment Office (CIO). Dimon reportedly paid its chief investment officer, Ina Drew, $14.5 million in 2011. Dimon just allowed Drew to retire. Dimon paid Bruno Iksil, one of the traders in the unit, $100 million.

The Model Joke

The thing about credit derivatives is that the models are very vulnerable to the assumptions one uses in the model. So you wouldn't want to say, push your people to make more money for JPMorgan and then let the people whose multi-million dollar bonuses depend on the outcome influence the assumptions. But that's only if you don't have Dimon's flair for comedy.

kalm wrote:So Ivy, is Dimon a hero?

Here's Jamie

After losing $2.2 billion (and rapidly rising) in mark-to-market losses in credit derivatives, the multi-trillion dollar global product JPMorgan created and claims it manages well, Dimon had the perfect response on yesterday's Meet the Press to straight man David Gregory's question: "How did this happen?"

"First of all, there was one warning signal -- if you look back from today, there were other red flags. That particular red flag -- you know, we made a mistake, we got very defensive and people started justifying everything we did. You know, the benefit in life is to say, 'Maybe you made a mistake, let's dig deep.' And the mistake had been brewing for a while, so it wasn't just any one thing."1

That's so funny I'll bet President Obama blew coffee out of his nose.

The Pay Joke

In 2011, Jamie Dimon got a total pay package of $23 million. Of course, those earnings came on the back of a global financial bailout, Fed enabled mergers that created an insanely big balance sheet, and ongoing cheap financing from the Fed. Meanwhile, U.S. savers get paid virtually no interest on low-risk investments to subsidize the banking system.

Dimon's pay partly depended on reported profitability of the division with the troubled credit derivatives, JPMorgan's Chief Investment Office (CIO). Dimon reportedly paid its chief investment officer, Ina Drew, $14.5 million in 2011. Dimon just allowed Drew to retire. Dimon paid Bruno Iksil, one of the traders in the unit, $100 million.

The Model Joke

The thing about credit derivatives is that the models are very vulnerable to the assumptions one uses in the model. So you wouldn't want to say, push your people to make more money for JPMorgan and then let the people whose multi-million dollar bonuses depend on the outcome influence the assumptions. But that's only if you don't have Dimon's flair for comedy.

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