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Most recent 17 results returned for keyword: Jamie Dimon (Search this on MAP)

https://plus.google.com/117247814206505310098 Freya J. Schultz : Posted at 7:02 am PDST, August 29, 2015, at 4870 Calle Real, #316, Santa Barbara, CA 93111. Economics...
Posted at 7:02 am PDST, August 29, 2015, at 4870 Calle Real, #316, Santa Barbara, CA 93111.

Economics professor Brad Delong of Berkeley writes about China as if the U.S. has no "transparency" problems in its business environment and as if honest dealings between parties are from a vague recognition of "property rights" and collegial "honesty", without recognizing the proper role of high level as well as local court business regulation.

In fact, his description of robber baron crony dealings in China sounds terribly like the recent history of the Blackstone Group and Goldman-Sachs, as well as Chase's declared loss of two billion dollars chastized by a two hour talk with the former Attorney General and a pat on the back for Jamie Dimon. WOULD ALL RECEIVE SUCH ENCOURAGEMENT INVICISSITUDES OF THAT PROPORTION?

Truly, Delong's characterization of the current China economy sounds like what the Rockefeller New World Order represents as "ideal.

Yet, Professor Delong characterizes the result of such practices as dooming future development to "stagnant" levels in the future, after this recent Shanghai Crash.

It should be amply clear that market uncertainty inevitably keads to MASS WITHDRAWALS from the markets, and that rolling waves of uncertainty institutionalize hedging behavior, upping cash reserves and other forms if hedging against not only market, but general economic uncertainty. Thes reserves, in a more stable environment, would be active in funding growth.

It is easy to demonstate that in the long run, as Charles Kindleberger observed in comparing the growth of the French economy (slow and poorly regulated), with the Dutch and British economies of the 19th century and before (faster-growing and strictly self-regulated as well as watched closely by their own governments), that a reasonable CERTAINTY you won't be wiped out by swindlers and sharpies is GOOD for longterm growth.

It is TRUE that the secular rate of growth in the U.S. market measured by Standard & Poor's was GREATER in tge kast decadeswith MOST of Glass-Steagall in effect than AFTER the great commercial and consumer banks became unified with their investment bank counterparts and starting rolling the dice for bigger stakes and it appears, timing their misadventures.....

As my father, Robert Martin Schultz, used to say, "Any fool can see......." if he or she just GRAPHS these things, most of which are available, in long series, in The Economic Report of the President....but NOT graphed for us in that document. If you graph things and look at real numbers, it is surprising how often the historic data trends simply do not natch the orthodoxies of "liberal" economics.

References: The article below, by Brad Delong, Huffington Post.
And..
A Financial History of Western Europe, by Charles Kindleberger, M.I.T.; The Economic Report of the President, U.S. Govt. Printing Office.

China's Market Crash Means Chinese Supergrowth Could Have Only 5 More Years to Run | Brad DeLong

4 hours ago - Via Google+ - View -
https://plus.google.com/104733999985251934990 slamet hendry : "You have to recognize reality as fast as you can in all things. Problems don't age well and denial ...
"You have to recognize reality as fast as you can in all things. Problems don't age well and denial is no good." Jamie Dimon
#quote
16 hours ago - Via Google+ - View -
https://plus.google.com/104473932328882758951 Joe Kager : JPMorgan Salary Package Grows as Pay Limits Are Thwarted Daniel Pinto earned a higher salary last year...
JPMorgan Salary Package Grows as Pay Limits Are Thwarted
Daniel Pinto earned a higher salary last year than his boss, Chief Executive Officer Jamie Dimon, according to JPMorgan Chase & Co. Dimon made more when factoring in bonuses and awards such as stock options in addition to his $1.5 million salary. But Pinto,...
JPMorgan Salary Package Grows as Pay Limits Are Thwarted
Daniel Pinto earned a higher salary last year than his boss, Chief Executive Officer Jamie Dimon, according to JPMorgan Chase & Co. Dimon made more when factoring in bonuses and awards such as stock options in addition to hi...
1 day ago - Via Google+ - View -
https://plus.google.com/107836497097112800531 BTC INVESTMENTS Not Just Cryptocurrency : Published date: 2015-08-25 //coinurl.com/get.php?id=41158 How engineering will disrupt the fiscal sector...
Published date: 2015-08-25 //coinurl.com/get.php?id=41158 How engineering will disrupt the fiscal sector in the hereafter In the annual letter to JPMorgan s shareholders this April, President and CEO Jamie Dimon alerted, Silicon Valley is coming. The…
How engineering will disrupt the fiscal sector in the next | CCMINER.CF
Published date: 2015-08-25 How engineering will disrupt the fiscal sector in the hereafter In the annual letter to JPMorgan s shareholders this April,
4 days ago - Via - View -
https://plus.google.com/110734946218641679352 Rex Dexter : Approaching Asteroid Threatens Banks By Philippe Gastonne - Aug 24, 2015 But actually banking hasn't...
Approaching Asteroid Threatens Banks

By Philippe Gastonne - Aug 24, 2015


But actually banking hasn't even begun to be disrupted in the same way that the likes of Expedia, Betfair and Amazon have transformed the face of high street travel, betting and book-selling respectively.

That is changing with the growth of peer-to-peer or market-place lending platforms which connect borrowers and savers.

The combination of these disruptive waves should have banks worried and I believe they are. – The Telegraph, Aug. 22, 2015

In a world where economic dinosaurs quickly go extinct, traditional banking is one of the prime survivors. Abundant capital and friendly capital have let it adapt to every challenge.

When banks lost commercial lending business to asset backed securitization in the 1980s, U.S. bankers convinced politicians to knock down the Glass-Steagall wall so they could enter the trading arena.

When their risky trades blew up in 2008, the Federal Reserve came to their rescue with unlimited free capital. Instead of shrinking, banks grew bigger and bolder.

Now the behemoth banks face a new existential threat. "Peer-to-peer" online lending platforms are still only a tiny fly buzzing around the banking brontosaurus, but disintermediation always begins small.

Today's economy ruthlessly destroys any intermediary who doesn't add significant value – and the core of banking is to connect lenders and borrowers.

Now that the Internet connects everyone to everyone else, those who wish to borrow and those who wish to lend no longer need banks in the middle.

Peer-to-peer lending platforms make introductions and process the necessary contracts far more efficiently than banks.

This revolution, if nothing stops it, could bring massive economic change.

Peer-to-peer loans are unleveraged.

They don't create liquidity from thin air like fractional reserve banking.

A world of unleveraged lending would be a world without credit-driven booms and busts.

Combine peer-to-peer lending with bitcoin's blockchain to store value and facilitate transactions, and we may be within striking distance of a true economic revolution.

Banks will not like it, either.

Bankers see the threat. JPMorgan Chase CEO Jamie Dimon warned earlier this year, "There are hundreds of startups with a lot of brains and money working on various alternatives to traditional banking. They are very good at reducing the 'pain points' in that they can make loans in minutes, which might take banks weeks. We are going to work hard to make our services as seamless and competitive as theirs."

This is a remarkable admission by Dimon.

He knows his species of banker is inferior.

He thinks hard work will let JPMorgan Chase stay competitive.

We should wish him well, but the traits he needs to survive are not in his bank's DNA.

This being the case, the only way traditional banks can survive is with political protection, and that can't last forever.

Consumers will ultimately decide.

Maybe, as a last gasp, the government can establish a financial endangered species refuge.

Think of it as Yellowstone for bankers.

They can graze there peacefully and remind us of a world gone by.

- See more at: http://www.thedailybell.com/news-analysis/36493/Approaching-Asteroid-Threatens-Banks/?uuid=839DE45B-5056-9600-1E8AB843C4AB07DC#sthash.8Ein5pHO.dpuf
The Daily Bell - Approaching Asteroid Threatens Banks
In a world where economic dinosaurs quickly go extinct, traditional banking is one of the prime survivors. Abundant capital and friendly capital have let it adapt to every challenge. When banks lost commercial lending business to asset backed securitization in the 1980s, U.S. bankers convinced politicians to knock down the Glass-Steagall wall so they could enter the trading arena. When their risky trades blew up in 2008, the Federal Reserve came ...
5 days ago - Via Google+ - View -
https://plus.google.com/101258461275551621637 Benjamin Craft-Rendon : If this is #banksters establishing themselves into the #militaryindustrialcomplex, that's worrisome:...
If this is #banksters establishing themselves into the #militaryindustrialcomplex, that's worrisome:

"Four-star General Ray Odierno retired from his position as U.S. Army chief of staff on Friday. Now, less than a week after mustering out, he’s cashing in. The former general has taken a job as a senior adviser to the investment firm JPMorgan Chase.

In a press release posted on JPMorgan’s website on Thursday, the firm announced that Odierno is joining the company in “a senior advisory capacity,” providing “strategic advice and global insights” to CEO Jamie Dimon as well as the company’s board of directors. The announcement also said Odierno “will represent JPMorgan Chase through engagement with clients, government officials and policy makers in the U.S. and internationally.”
Iraq War General Ray Odierno Cashing In With New Job at JPMorgan Chase
The freshly retired general “will represent JPMorgan Chase through engagement with clients, government officials and policy makers in the U.S. and internationally.”
7 days ago - Via Google+ - View -
https://plus.google.com/110566132942563077434 Protagon USA : Jamie Dimon Ramps Up CyberSecurity By Hiring Retired Army General http://ow.ly/32ZRox
Jamie Dimon Ramps Up CyberSecurity By Hiring Retired Army General http://ow.ly/32ZRox
Jamie Dimon Ramps Up CyberSecurity By Hiring Retired Army General
Recently retired Army chief of staff and former four-star General Raymond T. Odierno has been hired to advise JPMorgan's Chief Executive Jamie Dimon as well as the board on matters of security and ris
7 days ago - Via - View -
https://plus.google.com/101205017466489349259 Dealbreaker : Jamie Dimon Just Made A Badass New Friend - "Come on, let Jamie tell you 'bout his neeeew frieeend."
Jamie Dimon Just Made A Badass New Friend - "Come on, let Jamie tell you 'bout his neeeew frieeend."
Jamie Dimon Just Made A Badass New Friend
"Come on, let Jamie tell you 'bout his neeeew frieeend."
7 days ago - Via - View -
https://plus.google.com/111757332493117916539 Hennion & Walsh, Inc : Are investors worrying too much about Greece and China? Learn why one investment pro is telling investors...
Are investors worrying too much about Greece and China? Learn why one investment pro is telling investors to relax. http://ow.ly/QRiSI
Why long-term investors should listen to Jamie Dimon on China, Greece
Tough-talking J.P. Morgan CEO James Dimon recently told reporters something they didn’t expect to hear.
8 days ago - Via - View -
https://plus.google.com/111248622876746508400 OpWallStreet : Iraq War General Ray Odierno Cashing In With New Job at JP Morgan Chase: Four-star General Ray Odierno...
Iraq War General Ray Odierno Cashing In With New Job at JP Morgan Chase: Four-star General Ray Odierno retired from his position as U.S. Army Chief of Staff on Friday. Now, less than a week after mustering out, he’s cashing in. The former general has taken a job as a senior advisor to the investment firm JP Morgan Chase. In a press release posted on JP Morgan’s website on Thursday, the firm announced that Odierno is joining the company in “a senior advisory capacity,”  providing “strategic advice and global insights” to CEO Jamie Dimon as well as the company’s Board of Directors. The announcement also said Odierno’s “will represent JPMorgan Chase through engagement with clients, government officials and policy makers in the U.S. and internationally.” Odierno, who led the U.S. 4th infantry division during the initial stages of the occupation of Iraq, has been criticized for the allegedly heavy-handed and brutal behavior he permitted as a commander. While troops under his command were credited with the capture of Saddam Hussein, they were also criticized for their extremely harsh tactics in dealing with the local population. In Thomas Ricks’ 2006 book Fiasco, Odierno was characterized as helping enable indiscriminate mass detentions, prisoner abuse, and extrajudicial killings of Iraqi civilians in the area under his control. In one particularly brutal 2003 incident documented in the book, Odierno overruled a recommendation that a soldier under his command be court-martialed for the killing of a Iraqi detainee who had turned himself in to U.S. forces, saying that the soldier accused of the murder was “a cook, he didn’t get proper training,” and that the detainee was “very aggressive, a bad guy.” The detainee, an Iraqi man named Obeed Radad, had turned himself in to U.S. forces after learning that they had been looking for him. He was shot and killed while being held in an isolation cell at a U.S. detention center in Tikrit, after allegedly trying to escape through a barbed wire fence. The kind of behavior exhibited by Odierno’s forces would be said to have fostered the insurgency against U.S. troops in the country. Odierno later returned to Iraq and became one of the major architects of the U.S. military’s “surge” strategy. Despite the surge’s failure to achieve its goal — which was to achieve political reconciliation that would result in long-term stability — it has taken on a mythological significance to those who prefer to blame President Obama for the chaos in the region, rather than President George W. Bush. Odierno rose to become U.S. Army Chief of Staff in 2011, and in that role was a consistent public critic of plans by the Obama administration to draw down troop levels from their post-9/11 peaks. He has also been a steadfast defender of the original decision to invade Iraq, stating earlier this year that Saddam “was moving toward terrorism and I believe if he continued to have problems, we don’t know what he might have done in terms of being part of the problem with terrorism.” Odierno is far from being the only top military official to retire and take on a high-level position with a private sector firm. In 2013, shortly after retiring as the head of U.S. Central Command, former Marine Corps General James Mattis took a position on the Board of Directors of military defense contractor General Dynamics. A 2010 Boston Globe report documented that 80 percent of retired 3- and 4-star generals who retired between 2004 and 2008 went on to take positions as consultants or executives in the private sector shortly after retirement, primarily in the defense industry. In the press release announcing his new role with JP Morgan Chase, Odierno stated, “I’m excited to work with Chairman and CEO Jamie Dimon [and] to have the opportunity to contribute to JPMorgan Chase – a globally recognized industry leader.” Caption: Ray Odierno, then the No. 2 U.S. military official in Iraq, briefs reporters in Baghdad on Feb. 27, 2007 The post Iraq War General Ray Odierno Cashing In With New Job at JP Morgan Chase appeared first on The Intercept. https://firstlook.org/theintercept/2015/08/20/iraq-war-surge-general-ray-odierno-gets-new-job-jp-morgan-chase/
Iraq War General Ray Odierno Cashing In With New Job at JP Morgan Chase
The freshly retired general "will represent JPMorgan Chase through engagement with clients, government officials and policy makers in the U.S. and internationally."
8 days ago - Via - View -
https://plus.google.com/115501623917772601177 Expressivus Team : When it comes to base pay, at least Maybe banking regulations are Un-American, after all, Jamie Dimon...
When it comes to base pay, at least Maybe banking regulations are Un-American, after all, Jamie Dimon. In this country it’s pretty standard to have a lower salary than your boss. But then again, nothing about compensation in the financial services…
This JP Morgan Exec Makes More Than the Bank’s CEO Jamie Dimon
When it comes to base pay, at least Maybe banking regulations are Un-American, after all, Jamie Dimon. In this country it’s pretty standard to have a
15 days ago - Via - View -
https://plus.google.com/101182485378650187467 Progressive Review : Race to the bottom: Corporate leaders Jamie Dimon Koch brothers Bill Gates Sheldon Adelson Michael Bloomberg...
Race to the bottom: Corporate leaders
Jamie Dimon Koch brothers Bill Gates Sheldon Adelson Michael Bloomberg Lloyd Blankfein Pete Peterson Donald Sterling Donald Trump
Race to the bottom: Corporate leaders
Jamie Dimon Koch brothers Bill Gates Sheldon Adelson Michael Bloomberg Lloyd Blankfein Pete Peterson Donald Sterling Donald Trump
20 days ago - Via Google+ - View -
https://plus.google.com/114427200485658679100 Isaiah R : Too bad it wasn't that loud mouth prick Rick Santelli "Stewart had no special Wall Street knowledge...
Too bad it wasn't that loud mouth prick Rick Santelli

"Stewart had no special Wall Street knowledge, as he was the first to admit. What he had was a nose for a scam, and an uncanny ability to articulate what the rest of us were feeling.

He mocked the way Wall Street firms paid ungodly sums to settle government charges without ever admitting guilt (a subject later championed, less humorously, by Federal Judge Jed Rakoff). He lampooned the way dubious deals — particularly the notorious Goldman Sachs Abacus deal — were legal, even as they oozed with sleaze. After J.P. Morgan’s big London Whale losses, he showed a Senate hearing where senators cravenly solicited regulatory advice from the company’s chief executive, Jamie Dimon — and then noted that J.P. Morgan was often their biggest campaign contributor. And so on."

http://nyti.ms/1MTthGt
https://lh3.googleusercontent.com/-cAmtI3-PgiY/VcYP5oi75uI/AAAAAAAASSo/GfUrV_KOdFk/w506-h750/15%2B-%2B1
21 days ago - Via Google+ - View -
https://plus.google.com/101382096478179252611 Bleutrade : These charts prove why Jamie Dimon is the most important banker in the world (jpm, gs, bac, c)
These charts prove why Jamie Dimon is the most important banker in the world (jpm, gs, bac, c)
These charts prove why Jamie Dimon is the most important banker in the world
The global economy has a whole lot riding on...
21 days ago - Via - View -
https://plus.google.com/110734946218641679352 Rex Dexter : Giant New York Hedge Fund Och-Ziff Under Investigation For Bribery in $100M “Loan” to Zimbabwe Dictator...
Giant New York Hedge Fund Och-Ziff Under Investigation For Bribery in $100M “Loan” to Zimbabwe Dictator Mugabe

Michael Krieger | Aug 6, 2015

One of the most interesting articles I published last year, but one that failed to receive the attention it deserved, was related to a $100 million “loan” to Zimbabwe’s brutal dictator Robert Mugabe, in which Wall Street firms played a key role.

The post was titled, The Bailout of Robert Mugabe – How Wall Street Money Led to Intimidation, Torture and Death in Zimbabwe. Here are a few excerpts:

Four days later, Camec announced it was using the money it raised to purchase a joint venture with the Zimbabwe Mining Development Corp., or ZMDC, Mugabe’s state-owned mining company.

The joint venture owned the platinum stakes on the Great Dyke that had been taken back just a few weeks earlier from Anglo American.

The price included $5 million in cash; Camec issued shares to partners whose identities were shielded by a shell company based in the British Virgin Islands; and $100 million to Mugabe’s government.

Camec said the $100 million was a cash loan “to comply with its contractual obligations to the government of Zimbabwe” for the platinum claims.

It said the money would be repaid out of ZMDC’s share of future platinum earnings.

Camec’s balance sheets for the period make clear that funding for the platinum rights came from the private transactions involving Och-Ziff.

The $100 million figure mentioned above that flowed directly to Zimbabwe’s brutal dictator Robert Mugabe was more than just a cash infusion to a corrupt dictator.

Rather, it was a veritable political lifeline to a desperate and vulnerable despot.

Facing defeat in the initial round of elections to the opposition, and with the nation’s currency hyper-inflating, the only thing he had at his disposal were valuable platinum assets that were at the time held by Anglo American Platinum.

So Mugabe did what any desperate tyrant would do.

He expropriated the assets from Anglo-American and immediately put them on the market to raise money to crush his opposition.

Enter Wall Street.

This is where the Central African Mining & Exploration Co., or Camec, sniffed opportunity.

Seemingly set up specifically to buy assets on the cheap from desperate African dictators, Camec immediately set out to raise funding to provide Mugabe with much need cash in exchange for the recently stolen platinum assets.

Camec had no trouble raising this money from a variety of Wall Street firms, with the core participant being the massive hedge fund Och-Ziff, which contributed 75%, but also included BlackRock, GLG Partners and Credit Suisse.

Mugabe immediately used the money to intimidate, torture and murder opposition leaders until his primary opponent pulled out of the race.

The ninety year-old Mugabe remains in power, while many of the Wall Street titans have retired lavishly to multi-million dollar retreats in the English countryside.

The excellent Bloomberg article from which that post was based, mentioned that Och-Ziff was under investigation by the Justice Department. I noted at the time:

Let the Justice Department and SEC investigate.

Nothing meaningful will come out of it.

Too many rich and powerful people got paid, and as Larry Summers so crudely admitted in 2009 “insiders don’t criticize insiders.”

Just like how Jaime Dimon got a 74% raise in 2013 despite “settling” for $13 billion despite “doing nothing wrong” (in case you missed it, you must read: Jamie Dimon’s Big $13 Billion Secret – The Truth Behind the JP Morgan Settlement).

Fast forward one year, and the Wall Street Journal is reporting that Och-Ziff is close to “settling.” From the WSJ:

U.S. authorities are investigating whether Och-Ziff Capital Management Group LLC knew that part of a $150 million investment in a small African miner would wind up in the hands of Zimbabwe President Robert Mugabe’s government, according to people familiar with the probe.

Och-Ziff last year disclosed that a broader Justice Department and Securities and Exchange Commission investigation is examining the $47 billion New York hedge fund’s business in Africa under the Foreign Corrupt Practices Act.

The act bars firms doing business in the U.S. from giving money or items of value to foreign officials for business, either directly or through intermediaries.

The publicly traded hedge-fund firm is in talks to settle the probe into its ties to a network of investors and deal makers that it worked with on business from Libya to South Africa, according to people familiar with the investigation.

Och-Ziff and others have poured hundreds of millions of dollars into mining operations in the past decade as commodities prices soared.

Och-Ziff has denied that it knew some of the money would end up with the Zimbabwe government.

Human-rights groups said the funds were used to carry out a violent crackdown on the opposition during a tough election Mr. Mugabe ultimately won in 2008.

U.S. investigators are scrutinizing a March 2008 trip to Zimbabwe taken by Och-Ziff’s Africa director at the time, Vanja Baros,according to people familiar with the investigation.

The people said Mr. Baros met several people involved in channeling the money to the Mugabe government, including Billy Rautenbach, a Zimbabwean businessman with close ties to the dictator.

Mr. Rautenbach at the time of Camec’s move faced an arrest warrant in South Africa for alleged fraud, corruption and theft.

In 2009, he pleaded guilty on behalf of a company he controlled to fraud charges and paid a fine of about $5 million.

“Fraud, corruption and theft. Eh, just pay a fine, no biggie!

In late 2008, the U.S. Treasury Department put Mr. Rautenbach on a list of what it called Mr. Mugabe’s “cronies” and said he “provided logistical support for large-scale mining projects in Zimbabwe that benefit a small number of corrupt senior officials.” The Treasury removed Mr. Rautenbach from the list in 2014; the agency said that after a review, Mr. Rautenbach no longer warranted inclusion.

Mr. Rautenbach met the Och-Ziff Africa director, Mr. Baros, in a mid-March 2008 gathering in Zimbabwe, along with a Camec executive and others, people familiar with the visit said.

The trip was organized by Credit Suisse Group AG analysts who were optimistic about the company, these people said.

The group visited a trucking operation used to service Camec’s Congolese mining projects and had dinner, the people said.

They also visited the Congo and Mozambique, the people said.

Och-Ziff’s connection to the loan—disclosed in 2012 in the South African press—has raised concerns from at least one big investor.

In a September 2013 letter to the California Public Employees’ Retirement System, the biggest pension fund in the U.S. by assets known as Calpers and a onetime Och-Ziff investor that had questioned it about the Zimbabwe loan, the hedge-fund firm said it was a “passive shareholder of Camec” and that it “does not believe that any employee knew that Camec intended to provide funds raised from the offering to the regime of Robert Mugabe.”

A spokesman for Calpers, which last year shed its investments in hedge funds, including Och-Ziff, declined to comment.

In this case, it’s not just about theft and destroying the world economy.

Giant financial firms can apparently just “settle” even when grotesque human rights abuses occur.

This is how “justice” works in America.

http://libertyblitzkrieg.com/2015/08/06/giant-new-york-hedge-fund-och-ziff-under-investigation-for-bribery-in-100-loan-to-zimbabwe-dictator-mugabe/
Giant New York Hedge Fund Och-Ziff Under Investigation For Bribery in $100 "Loan" to Zimbabwe Dictator Mugabe
One of the most interesting articles I published last year, but one that failed to receive the attention it deserved, was related to a $100 million "loan" to Zimbabwe's brutal dictator Robert Mugab...
22 days ago - Via Google+ - View -