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Monday, June 11, 2012

Congress FINALLY figures out that senior level bankers at J P Morgan knew about hugh trading risks

Duh!

There is no high that compares to a 175 BILLION dollar bet that moves either up or down a couple hundred million EVERY hour.

One of the "perks" of working at the higher levels of a place like J P Morgan or any big bank is the right to "play" the futures game. This is especially true for the older guys who reluctantly realize that the headaches from Viagra are just not worth being 38 again.

The problem is that the people at J P Morgan are not as good at this form of gambling as the very few people on the planet with the right ganglia (a gift that comes only from God) to take these insane risks. And on top of this it is a form of betting that does absolutely no good for the other 7 billion people on the planet.

It should be outlawed or taxed along with Casino Gambling, Race Track Betting or the Lotteries. Also profits made by US Citizens should not be allowed to sit off shore.

Has ANYONE in Congress had the brains to ask if taxes are EVEN paid when a place like J P Morgan gets it right or do they keep their wins off shore as well????? Congress loves asking all these questions to Dimon because Dimon has decided to turn himself in and feed Congress what he wants them to hear. Why doesn't someone in Congress ask the simple question of how much money in taxes on profits does the US Treasury get when one of these money spinners pockets the offsetting $2,000,000,000 in this ZERO sum game.

Have these geniuses in Congress grilling him ever thought that Dimon may have turned himself in just to somehow game his position. Are they playing into his hands?

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