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JPMorgan’s Twitter (#AskJPM) Mistake

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Via: The New Yorker

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‘Advise to career-minded kids on the internet’, sounds simple enough, right?

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Then came the questions.

–  “Do you have any self awareness?”

– An editor at the Atlantic, riffing on the London Whale trading loss, tweeted, “What’s your favorite type of whale?”

– “Did you always want to be part of a vast, corrupt criminal enterprise or did you “break bad”?”

– “Did you have a specific number of people’s lives you needed to ruin before you considered your business model a success?”

– “What section of the poor & disenfranchised have you yet to exploit for profit, & how are you working to address that?”

– “Why aren’t you in jail for sending a literal ton of gold bullion to Iran in violation of sanctions?”

– “When Jamie Dimon (See eats babies are they served rare? I understand anything above medium-rare is considered gauche.”

http://www.newyorker.com/online/blogs/currency/2013/11/jpmorgans-twitter-mistake.html#entry-more

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November 18, 2013 Posted by | Uncategorized | , , , , | Leave a comment

(1 of 2) Wall Street Executives Believe Employees Need To Engage In Illegal Behavior To Succeed

Via: Think Progress

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In a survey of 500 senior executives in the United States and the UK:

26 percent of respondents said they had observed or had firsthand knowledge of wrongdoing in the workplace

– 24 percent said they believed financial services professionals may need to engage in unethical or illegal conduct to be successful.

16 percent of respondents said they would commit insider trading if they could get away with it

30 percent said their compensation plans created pressure to compromise ethical standards or violate the law.

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Read more, HERE:

http://thinkprogress.org/economy/2012/07/10/513518/wall-street-illegal-survey/

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July 11, 2012 Posted by | Occupy Wall Street | , , , , , , | 2 Comments

Bain and Financial Industry Gave Over $565,000 To Newark Mayor Cory Booker For 2002 Campaign

Via: Think Progress

Yesterday, Newark, New Jersey Mayor Cory Booker (D) attacked the Obama campaign for making an issue of Mitt Romney’s tenure at Bain Capital during an appearance on Meet the Press.

While the progressive leader later backed off the criticisms, Republicans have been quick to highlight his comments as an attack against the idea that scrutiny of Mitt Romney’s record as a businessman is fair game.

A ThinkProgress examination of New Jersey campaign finance records for Booker’s first run for Mayor — back in 2002 — suggests a possible reason for his unease with attacks on Bain Capital and venture capital. They were among his earliest and most generous backers.

Contributions to his 2002 campaign from venture capitalists, investors, and big Wall Street bankers brought him more than $115,000 for his 2002 campaign. Among those contributing to his campaign were John Connaughton ($2,000), Steve Pagliuca ($2,200), Jonathan Lavine ($1,000) — all of Bain Capital. While the forms are not totally clear, it appears the campaign raised less than $800,000 total, making this a significant percentage.

He and his slate also jointly raised funds for the “Booker Team for Newark” joint committee. They received more than $450,000 for the 2002 campaign from the sector — including a pair of $15,400 contributions from Bain Capital Managing Directors Joshua Bekenstein and Mark Nunnelly. It appears that for the initial campaign and runoff, the slate raised less than $4 million — again making this a sizable chunk.

In all — just in his FIRST Mayoral run — Booker’s committees received more than $565,000 from the people he was defending.

At least $36,000 of that came from folks at Romney’s old firm.

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http://thinkprogress.org/election/2012/05/21/488002/bain-financial-industy-gave-over-565000-to-newark-mayor-cory-booker-for-2002-campaign/?tw_p=twt

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photo:

“C’mon man, $565,000 is only this much!”, he didn’t add.

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When they say it’s not about making money, they’re lyin’!

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May 22, 2012 Posted by | 2012, Romney | , , , , , , , , , | Leave a comment

“Quote of Day”

“People who don’t have money don’t understand the stress,” said Alan Dlugash, a partner at accounting firm Marks Paneth & Shron LLP in New York who specializes in financial planning for the wealthy. “Could you imagine what it’s like to say I got three kids in private school, I have to think about pulling them out? How do you do that?”

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Via: Bloomberg

‘Bonus Drops Means Trading Aspen for Coupons’

Andrew Schiff was sitting in a traffic jam in California this month after giving a speech at an investment conference about gold. He turned off the satellite radio, got out of the car and screamed a profanity.

“I’m not Zen at all, and when I’m freaking out about the situation, where I’m stuck like a rat in a trap on a highway with no way to get out, it’s VERY HARD,” Schiff, director of marketing for broker-dealer Euro Pacific Capital Inc., said in an interview.

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Read more, HERE:

http://www.bloomberg.com/news/2012-02-29/wall-street-bonus-withdrawal-means-trading-aspen-for-cheap-chex.html

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March 1, 2012 Posted by | Uncategorized | , , , , , , | Leave a comment

Occupy – EVERYWHERE!

Via:  ‘The Reformed Banker’ – Dependable Renegade

In 2008, the American people were told that if they didn’t bail out the banks, there way of life would never be the same. In no uncertain terms, our leaders told us anything short of saving these insolvent banks would result in a depression to the American public.

We had to do it!

At our darkest hour we gave these banks every single thing they asked for. We allowed investment banks to borrow money at zero percent interest rate, directly from the Fed. We gave them taxpayer cash right onto their balance sheets. We allowed them to suspend account rules and pretend that the toxic sludge they were carrying was worth 100 cents on the dollar. Anything to stave off insolvency. We left thousands of executives in place at these firms. Nobody went to jail, not a single perp walk. I can’t even think of a single example of someone being fired. People resigned with full benefits and pensions, as though it were a job well done.

The American taxpayer kicked in over a trillion dollars to help make all of this happen.

But the banks didn’t hold up their end of the bargain.

The banks didn’t seize this opportunity, this second chance to re-enter society as a constructive agent of commerce. Instead, they went back to business as usual. With $20 billion in bonuses paid during 2009. Another $20 billion in bonuses paid in 2010. And they did this with the profits they earned from zero percent interest rates that actually acted as a tax on the rest of the economy.

Instead of coming back and working with this economy to get back on its feet, they hired lobbyists by the dozen to fight tooth and nail against any efforts whatsoever to bring common sense regulation to the financial industry. Instead of coming back and working with the people, they hired an army of robosigners to process millions of foreclosures. In many cases, without even having the proper paperwork to evict the homeowners. Instead, the banks announced layoffs in the tens of thousands, so that executives at the top of the pile could maintain their outrageous levels of compensation.

We bailed out Wall Street to avoid Depression, but three years later, millions of Americans are in a living hell. This is why they’re enraged, this why they’re assembling, this is why they hate you. Why for the first time in 50 years, the people are coming out in the streets and they’re saying, “Enough.”

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Print this out and hand it to every douchebag you know who insists Occupy Wall Street is a bunch of dirty fucking hippies who should just get jobs already. THIS is why people are fucking angry enough to bring back the guillotine.

http://www.dependablerenegade.com/dependable_renegade/2011/10/this-this-this.html

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personal thought:

If you don’t want to ‘print it out’, please send it to your Aunt, and ask her to mail it to her +2,000 teabagger friends.

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October 18, 2011 Posted by | Occupy Wall Street | , , , , , , | Leave a comment

Occupy Wall Street – today is Day 15

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The webite for Occupy Wall Street:

http://www.adbusters.org/campaigns/occupywallstreet

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October 1, 2011 Posted by | 2012, Occupy Wall Street | , , , , , , , | Leave a comment