On Chase's loss, which has rattled financial markets, another banking official says in a Bloomberg story:

There are risk-lovers, there are risk-haters, and the best traders will take the risk as long as they get paid for it.

Uh...that's your problem right there.

The odious Jamie Dimon, talking about Ina Drew, the executive whose unit was responsible for the loss, mumbled that “In hindsight, the new strategy was flawed, complex, poorly reviewed, poorly executed and poorly monitored.”

And who pushed Drew's operation "to make bigger speculative bets with the firm’s own money, according to five former employees"? That would be Jamie Dimon, whose total compensation for 2011 was $23 million.

Drew's, according to the first-linked story, was a mere $14 million.

time to fall on your sword, dimon.

i have spent so much fucking time arguing with my family on fb about gay marriage in the past week. I'm so fucking sick of having to explain the 14th amendment and the separation of church and state. So. Fucking. Sick of it.

@1

people who run banks are essentially non-creative criminals. When you allow them to fuck you over the same way they did prior, they typically don't feel the need to be creative about how they fuck you, and they just go back to the ol' tried and true.

This loss was a failure which revolved around derivatives and credit default swaps...just like the mortgage crash.

We've had 4 years. 3 of them under Obama, to finally replenish the SEC and build a set of financial regulations and the necessary organization of enforcement for these regulations and we have done absolutely nothing.

I don't know which commodity./commoditized industry this loss revolves around, but I know they're doing the same thing to the oil industry, and eventually it's gonna crash hard as well, and no one will be holding the oil, because no one making these financed gambles has any capacity to hold any of it.

We kinda need oil for food. Where is the hopie changie, won't have any lobbyists on his staff, we're gonna get the people who made these irresponsible investments but hasn't arrested a single bank executive Barack Obama now?

And you people really think he gives a shit about gay marriage?

He pulled this same shit around the "freedom of choice act" just in time to suck money our of women. Now, he's sucking it out of gay folk.

I just can't believe y'all fell for it.

@4 So you wish we'd elected McCain and Palin instead? Things would be better then? Thing about it: Palin and company in the White House.

This lazy morning news post author won a freakin' Pulitzer? He appears to not even know what a sentence is!

@5

Couldn't be much worse, and at least McCain would have ended the US policy of torturing our citizens and the citizens of other countries.

We still got the Patriot Act, Bush Tax Cuts, and now it looks like we're starting a war in Yemen (you know any military folk? They can't take any more of this...)

But, he did say he is cool with gay couples (but that he wouldn't life a finger to secure their rights), so yay prez!!!

(plus being on the brink of another financial crisis that uses the same financial instruments as the last one...)

@7, oh yeah right he would've ended torture.

@8

McCain was an opportunist, and less of a "maverick" than that bullshit title he kept getting thrust upon him. The McCain/Feingold legislation was also cover for the dirty deeds that McCain did in taking money from Abramoff (and, he also sold a friend down the river during those congressional hearings), but if there was one issue on which McCain did not waiver, as far as I have ever seen or read, it is torture.

You have someone jam bamboo shoots up your fingernail pads and see if you don't feel the same way.

(and, he was a lazy, shitty pilot, which is why he got shot down in the first place, but that doesn't take away from the fact that he was a devout anti-torture advocate.)

Oh yeah...and feel free to ignore the rest of that and just make your flippant little comment.

Ya wanna know how a McCain presidency really would have been better?

Instead of you all applauding the president for continuing in the policies of Bush, you'd be criticizing him.

Fuck, I wish Kucinich was a little more TV friendly. He was the candidate who would have actually done all the stuff Obama promised and ignored once he won.

@2:

This is a good death. There's no shame in this, in a man's death. A man who has done fine works. We're making a better world.

But then again, could this really be said of Dimon?...maybe the Operative would say it anyway, just for the sake of his own, particular, species of kindness.

@ 10, et al. I remember '00. Bush & Gore were pretty much the same back then, too.

@13

um...no they weren't. maybe tipper gore and bush were similar, but no one thought gore was lacking in the kind of integrity bush was.

that was some convenient bullshit, though. i applaud the effort, anyway.

Speaking of bullshit, Malcolm - @4

just can't believe y'all fell for it.

Actually, I can't believe you "fell for it" (something you've already admitted to several times, so I can't see why you're trying to project it on others). I got almost entirely what I was expecting out of Obama. I don't know what you were watching.

We've had 4 years. 3 of them under Obama, to finally replenish the SEC and build a set of financial regulations and the necessary organization of enforcement for these regulations and we have done absolutely nothing.

Absolutely nothing, you say? Care to make a wager? I know how much you love betting on lost causes.

But hey, keep on being a deeply cynical concern troll. It both intimidates me and makes me think you're smarter than I am.