Bull: Are you crazy? Why bring that kind of Karma around. No thanks too many people have way too much wrapped up in this, to bring that kind of Karma around. Have you ever considered that the fact that JPM wanted to wipe out the shareholders of WMI in March 2008 and worked on the FDIC for months, before they finally got what they wanted. Sinister and Jamie Dimon is not a saint for stealing shareholder value like that.
I have posted the Tim Main email (JPM made stock offering) the next week, but put risk restrictions on it, this is why WAMU opted for TPG.. What if you were really really rich and you assembled like investors to come up with 7bil of yours and others money to invest in a good bank like WAMU and not less than 5 months later, your wealth in it is wiped out by the actions of a federal agency who was being prodded by a salivating banker. Would you be pissed off and want your investment back, especially since the banker had to write off negative goodwill and knew he would? What if you, I, JW, JHD, Biz and etc etc put every dollar we have into 1 fund and invested that fund into an investment that had a good chance of paying 5-10% a year and along comes some JA who is connected to the government and wipes out our investment with regulation and political theater. How would you feel? The individual was lying to the government or giving them confidential info, so they could steal our investment. i worked 10 years for that money and now POOF, it is gone because of collusion and corruption. Now we have to come up with more money, so we can afford the attorneys we need to fight the injustice.
Put yourself in the shoes of a pensioner (your father, mother, uncle brother etc) who had no control of of their retirement money in WAMU. Some retirement right! Your Mom and Dad worked all their life, saving, scrimping, so they could have a good retirement and now a NY Banker decides their fate. You never seen them growing up, because they were always working, they never drove a Mercedes Benz, "they drove a Pinto" Very seldom "if ever" did you go on vacations, because Mom and Dad had plans for you and them. When they retired, they would someday be able to go on a cruise, afford a long-term vacation in Mexico, buy a condo in Florida, put you through college, so you could have a chance etc... You missed out on all the childhood opportunities and luxuries, because your parents had to take 10-20% OF EVERY CHECK and put it into a fund, so they could enjoy their GOLDEN YEARS! Would you be pissed? You never went to Disneyalnd, like the neighbors, you never even saw an island, like you cousins, no Mom and Dad were doing it all for yours and their benefit.
You see Bull, this is my Parent "right here" Thank God my dad's stock is in US Bank!
Put yourself in the shoes of Your Best Friend or Brother who had been investing his sons, daughters (your niece, nephew's) college fund in WAMU since they were born and now they can not go to college and become doctors, lawyers, engineers, etc because Jamie Dimon stole their money. Who is going to pay to send them to college, so they can have a chance in a cruel, cruel world? Would you pay for their education? Would you be pissed and finally say this is not fair! Why are those precious kids having to suffer, because Wall Street decided it wanted a Main Street bank?
Put yourself in the shoes of a regular 20 or 30 something-year-old who decided to invest the bonus they received or maybe a small inheritance or the extra money from the 2nd or 3rd job, so they could realize the dream of owning a home. Married couples almost got a divorce over it or lost the lust and drive they started out with, because they never saw each other, but never the less, they put the money in a safe bank investment to just let it sit there, until they were ready to put the downpayment on the house so they could get a little bigger home for the new family They never blew it on a Lexus or Boat, no they had a different goal in mind.. Now they can't buy a house and have to move in with you or mom and dad. Would you then be pissed at JPM and quit defending them? JPM doesn't give one iota of SH$T about you or the average investor in their company, why would you spend so much time defending them?
Put yourself in the shoes of the average small-time investor who was investing in a 100-year-old National Bank because it seemed like a safe investment (they were'nt playing the OTC, they were playing the big board) because the New CEO said the bank had plenty of money to move forward, no liquidity crisis and it seemed like a good investment. Now the new investor to the market can not invest or will not ever buy stocks again, because they were wiped out overnight. If you were that guy or gal, would you be pissed? What if it was your brother, sister, dad or mother who took most of their savings and put it in a "safe" invesmtent in the bank and now it is gone and so is their marriage and now you are worried about them, because they are borderline alcoholics, drug-addicted or some other vice? Would you pissed at JPM?
Now last but not least.. Put yourself in the shoes of Jake Barrett and any other young child who mowed lawns, washed cars and took his hard-earned summer money, gave it to his dad (YOU) and said DADDY I TRUST YOU! Daddy takes childs money and buys 50 shares of the WMI for $9 each, because they felt it was a good investment and wanted to show their child how the market worked. As they watched, the child saw that his investment decreased overnight by 30-40% and dad said "son that is how the market works, it will come back up!" Within 2 weeks, the son's hard-earned money was now gone, Jake had mowed lawns, done a paper route, washed cars, saved his money and with dad's advice decided to buy a 'safer' investment to help increase his earnings slowly over a period of time, You know the old adage "a penny saved is a penny earned" but in Jamie Dimon's case it's "a penny stolen is a penny earned!" Now what are you going to say to Jake when he asked what happened to his money? What are you going to tell him when you have to explain that the guy on TV stole your money with the help of the government. What morals and values is that going to teach YOUNG JAKE! Will Jake work hard next summer to earn money or will Jake lose interest and sit around and "play video games?" Now what lesson did we teach "young Jake?" What will Jake be like when he is a teenager working at McDonalds? Will Jake ever save his money again or will he "let it burn a hole in his pocket?" What impression will this leave on "Young Jake's" mind for the future when he is being told by dad to save this money?
Now how are those SHOES? You might want to wipe off what is on the bottom of them, because you just "stepped in it!"
Never Gloat at the demise of someone else, it shows TRUE COLORS!
You see Bull (just like with JW) you do not bet on the demise of someones dream, house, children, retirement, savings etc.. You pray and you hope that Justice will come to those who lost their investment. You push and push until you finally get a little, then you push again and get a little more. You don't go to message boards and gloat because you have stock in the company that is the cause. You "SHUT UP! Do research and leave those people alone. This is not a game, these are real people, with real lives, who lost real money that was earmarked for real things! JPM wants to split into 4 divisions, what if Chase got taken over by the FDIC someday and you lost everything?
GET IT??? This is not a betting environment keep your $5, it might be all JD leaves you with.!!!
GROW UP AND PUT YOURSELF IN THEIR SHOES FOR ONCE !! THEY DON'T CARE ABOUT LONG BEACH MORTGAGE OR LEVIN OR ROSEN, THEY CARE ABOUT THEIR INVESMENT BEING RETURNED TO THEM, SO THEY CAN HAVE SOME FAITH IN THE LAW AND JUSTICE SYSTEM!
Save the marriage, put the kids through college, buy the house, etc.. This was an unjust act and it needs to be remedied if we are going to survive as a nation.
~Fish~
