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| Re: JP Morgan Chase Execs Vaporize $2B (941672) | |||
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Re: JP Morgan Chase Execs Vaporize $2B |
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Posted by Stephen Bauman on Tue May 15 09:42:57 2012, in response to Re: JP Morgan Chase Execs Vaporize $2B, posted by Charles G on Tue May 15 07:10:39 2012. The numbers I've seen for JPM Chase are that they have $360 Billion in outstanding credit derivative "bets", but only $17 Billion in actual small business loans outstanding.The Fed keeps interest rates artificially low so that the economy can get re-started/kick-started/jump-started. The banks borrow at these ridiculously low rates, but instead of then re-loaning the money out they make all kinds of derivative bets. What is the point of a low Fed funds rate if the money never actually makes it to the economy? Do I sense that eliminating the banks as middlemen by going for a government jobs program might have been a more prudent approach? |
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