
{"id":26087,"date":"2012-05-24T12:07:43","date_gmt":"2012-05-24T16:07:43","guid":{"rendered":"http:\/\/www.carrborocitizen.com\/main\/?p=26087"},"modified":"2012-05-24T12:07:43","modified_gmt":"2012-05-24T16:07:43","slug":"letter-dimon-gambling-lost-big","status":"publish","type":"post","link":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/2012\/05\/24\/letter-dimon-gambling-lost-big\/","title":{"rendered":"LETTER: Dimon gambling lost big"},"content":{"rendered":"<p>The GOP, who gave us the laugh-a-minute production on choosing a presidential candidate a few months back, finally focused on Mitt Romney. Though largely funded by very rich conservatives who felt akin to an experienced former governor who brought Obama-like health care to Massachusetts and also, like his promoters, kept some of his embarrassing fortune in a Wall Street operation with a wee million or two in the non-taxed vault of a not-to-be-mentioned Swiss bank. <\/p>\n<p>His nomination inspired the monied denizens of Wall Street where his wining ways encouraged the banking genius of JP Morgan Chase prexy Jamie Dimon to return to his favorite money sport \u00e2\u20ac\u201c gambling &#8211; with the bank\u00e2\u20ac\u2122s money, of course! Jamie was also preaching to House Republicans on the unfairness of the Volker Rule, which suggested that banks stop using people\u00e2\u20ac\u2122s deposits to do exactly what the great Jamie \u00e2\u20ac\u201c and friends \u00e2\u20ac\u201c were doing. The Republicans, buoyed by the encouragement of Romney Righteousness, applauded Jamie\u00e2\u20ac\u2122s monied genius \u00e2\u20ac\u201c and dumped the Volker plan into the Republican shredder used to destroy good ideas.<\/p>\n<p>But it was too late. Dimon\u00e2\u20ac\u2122s dream of riches \u00e2\u20ac\u201c added to his $23 million 2012 salary \u00e2\u20ac\u201c came up against the market fiend who tore off $2 billion from JP\u00e2\u20ac\u2122s gamble which looks now to reach a $5 billion loss. In turn JP\u00e2\u20ac\u2122s machinations have upended $100 billion in what one commentator call \u00e2\u20ac\u0153risky bonds.\u00e2\u20ac\u009d Even the FBI has asked to see how this remarkable activity came to pass. And that image of honest reporting \u00e2\u20ac\u201c Rupert Murdoch\u00e2\u20ac\u2122s Wall Street Journal \u00e2\u20ac\u201c assures us that Jamie\u00e2\u20ac\u2122s losses are nothing to get excited about.<\/p>\n<p>Still one wonders how many jobs could be created by JP\u00e2\u20ac\u2122s small potato loss of $5 billion. Can you hear us Jamie? <\/p>\n<p>William Sommers<br \/>\n<em>Pittsboro<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The GOP, who gave us the laugh-a-minute production on choosing a presidential candidate a few months back, finally focused on Mitt Romney.<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-26087","post","type-post","status-publish","format-standard","hentry","category-opinion"],"_links":{"self":[{"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/posts\/26087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/comments?post=26087"}],"version-history":[{"count":1,"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/posts\/26087\/revisions"}],"predecessor-version":[{"id":26091,"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/posts\/26087\/revisions\/26091"}],"wp:attachment":[{"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/media?parent=26087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/categories?post=26087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/tags?post=26087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}