Friday, May 11, 2012

WMDs Discovered at JP Morgan

Bloomberg breaking the story:

Jamie Diamond losing his street cred:

Reggie Middleton discussing derivatives in banking on 10/19/2010

As Warren Buffett says: "Derivatives are financial weapons of mass destruction." Will JP Morgan's misfortune present investors with a buying opportunity to pick up more conservatively run banks such as Wells Fargo, PNC or BB&T at attractive prices?

1 comment:

  1. As far as who discovered JP Morgan chase. Who cares. I would like to see how all those wall street banksters in those three piece suits with their briefcases would look like with a good pick a shovel a bucket and a nice pare of pinstripes.