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Sunday, June 28, 2009 5:08:26 PM
Anyone ever hear the term "given them enough rope and they'll hang them selves". Well guess what?...... JPM done hung themselves good.
During JPM's growth cycle, they became increasingly more cavalier in how they do business they started taking more and more rope. It was easy for them so they became lazy. Laziness leads to shortcuts. JPM became brazen, even loose in their WaMu/WMI dealings and it turned out to be a fiasco for them. Now it's a matter of finger pointing back stepping and damage control for JPM and the FDIC.
For WMI et al, there is only one way to go from here: up.
AIMHO
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