JPMorgan Links and News - March 10, 2010

JPMorgan Chase Files Notice of Foreclosure on Liberace Vegas Villa

Associated Content

JPMorgan Chase filed a Notice of Foreclosure on one of Liberace's famous homes, known to insiders as the 'Las Vegas Villa.' Why does Sin City sit idly by as ...

UK Bank Profit May Slump on 'Devastating' Rules, Analyst Says

BusinessWeek - Andrew MacAskill - ‎17 hours ago‎

“The profitability impact is devastating for a lot of the banks,” JPMorgan analyst Carla Antunes da Silva said at a banking conference in Milan today. .

Nickle here: "Devastating" means bankers don't make as much.

A Bank Rally? Yes – But Here's Why

CNBC 

Nothing matters more for the banks than a peak in these write-offs, Cramer said, whether it's JPMorgan Chase Second, Washington has become less of a factor. ...

Nickle here: Cramer is an idiot and a shill for the banks.

Speculative gambles without any social benefit

Financial Times - Theodore Margellos - ‎15 hours ago‎

"I used derivatives and complex structured products involving both commodities and currencies long before the team at JPMorgan – that “created” the credit default swaps market – graduated from college.
"Both are purely speculative gambles without any social or economic benefit. In a nutshell: yes to short selling in commodities, no to short selling in securities."

Nickle here: Two important points in this article:
1) JP Morgan created the credit default swaps market
2) The credit default swaps market is purely speculative gambles without any social or economic benefit.

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