Trading house's own underwriting compromises their advice

Discussion in 'Off Topic' started by 101101, Dec 9, 2020.

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  1. 101101

    101101 Well-Known Member

    JP Morgan is an example. During the latter 3 years of Trump it under wrote (if memory serves) some 300 billion of fossil fuel junk. Bear Sterns shows how much these firms can be on the hook for that when failing FF gets locked out of access to capital to keep their ponzi failing forward. Dodd Frank, I 've heard it said is a bang switch, that wrongly triggers less scrutinized funding for that junk in emergenies (for the fraud) but bang switchs have cause fires like Cyprus style "bail ins" where people found beyond non existent or tiny depositure insurance their accounts balances had been changed out for totally illiquid notes in their defunt banks- allegedly part of Dodd Frank's non solution. And you also get a crises in pensions where being invested in this too-big-to-fail, ponzi pay-it-forward junk you get the pitch forks out and shell games won't help here in the 2nd time around in recent memory. You have to be carefull- for instance Bank of the West which says its green actually has 20 billion in derivatives junk- all derivatives are opaque by law blind debt ponzi junk a vehicle designed to protect the ff ponzi by intermingling and shell gaming as so its no surprise apparently 90% of derivatives are insuring economically stranded asset petrol and if a damn blind derivative is needed you know its junk in the first place. Just think something like 75% of the lame proven reserves propping up the balance sheet of companies like Exxon are permanently economically stranded liabilities not assets so just by book value these firms are inflated by 75%- hows that for Buffets value investing? The full faith and credit of even the US's guns and butter can back an inherant failure for ever, there is a limit to austerity. Fun apparent fact- term 'derivatives' in economic context has been around since Adam Smith. So not claiming and special expertise but not surprising that a firm that finananced maybe even more FF than BlackRock in that last year (Blackrock as the biggesr FF funder has something like 7 trillion in inflated FF junk that by its own account its own share holders told it to get out of and it acknowledged through its head that made sense- lip service)- not surprising that JP Morgan might for instance raise its also not surprising super bear valuation of Tesla by more than 10% under the S&P push (to look diligent) than as a hedge pay ('sponsor') Bloomberg to do an article (ad-infomercial-propaganda that could have been written by a trading platform) to say it JPMorgan said Tesla is "radically overvalued." Then if Tesla drops in a tiny perturbation due to background noise it will try to reinforce its propaganda power to say the drop was because it said so. How hair raising for JPMorgan given all its stupid FF underwriting and its bad advice investing of its clients money and propgandizing to try to prop that obviously bad underwriting up when Musk surpasses Bezos as the world's riches man on in essence a pure green play. That means JP Morgan's whole pile of ponzi bulsht will come tumbling down again like it did not so long ago but this time they won't be 'too big to fail' because green is an actual snap in huge money saving replacement for FF and they will be made to eat the losses with real skin in the game and lose their future business over brokering and pushing the investment in obvious junk. They will try to hide behind it being some kind of public policy but it really wasn't. The government didn't really tell them to do it.
     
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  3. bwilson4web

    bwilson4web Well-Known Member

    A simpler explanation is they are not very bright.

    Bob Wilson
     
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  4. gooki

    gooki Active Member

    20 years ago I learned banks a just pimps in disguise. Middle men who will peddle anything so they can take their cut.
     
  5. Recoil45

    Recoil45 Member

    Without banks most people would never go to college, own a car or ever buy a home.


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  6. gooki

    gooki Active Member

    That's a fallacy. Banks and their easy access to debt over decades increases the price of cars, homes and college education, to the point saving for it becomes unrealistic for most.

    Banks are used by governments to drive inflation. Banks happily partake so they can get their 2% cut every year.
     
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  8. Do you have a bank account?
     
  9. gooki

    gooki Active Member

    No. Do you?
     
  10. Really??!! So where do you keep your money? Or how do you pay for stuff, cash only?

    And yes, like everyone else I know, I have a bank account. Never heard of anyone that doesn't have one,... until now.
     
  11. gooki

    gooki Active Member

    Cash or in my brokerage account.
     
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  13. Can't see how you can have a brokerage account and no bank account. How do you move money in and out of your brokerage account? I am sure they don't accept or handle cash.

    And how do you pay your taxes? With cash?? A lot of institutions and agencies (govts, utilities, credit cards, etc, etc) do not accept cash.
     
  14. gooki

    gooki Active Member

    Taxes automatically come out of pay check.

    Pay check goes into brokerage account.
     
  15. Sorry, but that is not a complete answer. Pay check taxes are never exact and you will always have either a refund or have to pay. And what about all your utilities, etc.? You seem to be implying that your brokerage account is your bank account, so I really don't get your point about that.

    I seriously doubt your responses. What you have said just doesn't make any sense. Only people I know of or heard about that only like cash are criminals and those that want to evade taxes. Or those that are undocumented and operate in the underground economy.

    Do you even own an EV?
     
  16. gooki

    gooki Active Member

    In my country employee payroll taxes are exact. The only adjustments I can make is for charitable donations, but for a couple of hundred dollars a year I don't bother.

    Plenty of brokerage accounts let you tie a credit or debit card to it. All my utilities automatically get paid via my linked card.

    Yes I use my brokerage account like a bank account, but it avoids rewarding banks that pimp credit.
     
  17. gooki

    gooki Active Member

    Yes I own a wonderful Nissan Leaf.
     
  18. What country is that?
     
  19. Recoil45

    Recoil45 Member

    OMG. Banks bad. Investment banks good. LMAO.


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  20. Recoil45

    Recoil45 Member

    .
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