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That is a very univariate understanding of what happened. I highly advise a more multivariate approach where the causes and effects are more deeply understood

That is a very univariate understanding of what happened. I highly advise a more multivariate approach where the causes and effects are more deeply understood than spinning a story against one company, much less everyone who works at that one company. I'm not sure anyone would survive that scrutiny.

cityzen 8y ago
Sure thing, send me over some links of things you think frame the 2008 Financial crisis in a better light. I pasted a quote from an article, provided the source and gave my opinion of JPMorgan, staring with the words... "I guess..." If that is spin to you, I don't know what to say. The funny thing is that I gather you didn't read the article. The last paragraph actually talks about how Dimon was spinning the whole thing all along: Dimon had harsh words, of course, for the Obama administration over his belief that his bank was treated unfairly by the Department of Justice in the $13 billion settlement. Instead of penalizing the bank for its bad behavior, Dimon argued, it should be celebrated for helping to save the financial system from its further free fall. That may be true to some degree, but Wagner’s 92-page draft complaint puts the wood to Dimon’s spin machine and shows that he and his colleagues at the bank were no different than the rest of the Wall Street banksters who received big bonuses for packaging up mortgages they knew would not be repaid into securities that they could sell to investors for big fees. Dimon’s pay package for 2013, the year of the big government settlement, was $20 million—a raise of 74 percent from the year before. So, sure, enlighten me friend.
- Lkjhmnbv 8y ago
  >Wall Street banksters who received big bonuses for packaging up mortgages they knew would not be repaid Who underwrite the loans? Who recommended the loans be written? The whole thing is complicated. A single article is nothing more than a start. I'm ony phone, but I highly suggest researching each party and their justifications for their actions and make your own conclusions rather than expecting some external source to spoon feed it to you.
  - cityzen 8y ago
    It's my opinion that big banks are good for nothing. yes, I do believe people should take a little moral inventory before joining an institution that has a history of penalties like this: Top 10 Primary Offense Types toxic securities abuses $13,450,500,000 mortgage abuses $5,411,600,000 banking violation $4,012,350,341 anti-money-laundering deficiencies $2,161,000,000 False Claims Act $614,000,000 foreign exchange market manipulation $550,000,000 consumer protection violation $520,500,000 investor protection violation $434,054,000 securities issuance or trading violation $427,324,210 energy market manipulation $410,000,000 this is the top 10. That is around 27 billion in penalties for non-trivial violations. You can download every one of these records here: https://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase https://violationtracker.goodjobsfirst.org/parent/jpmorgan-c...
    - Lkjhmnbv 8y ago
      So you agree with Steve Bannon. I'm not saying you're wrong, I'm saying you're over generalizing. And you would never accept other generalizations like the one you're making. For instance the democratic party is good for nothing because Anthony weiner is in jail for soliciting sex with a minor. You could make that argument. Still too one sided.

cityzen 8y ago

Sure thing, send me over some links of things you think frame the 2008 Financial crisis in a better light. I pasted a quote from an article, provided the source and gave my opinion of JPMorgan, staring with the words... "I guess..." If that is spin to you, I don't know what to say. The funny thing is that I gather you didn't read the article. The last paragraph actually talks about how Dimon was spinning the whole thing all along: Dimon had harsh words, of course, for the Obama administration over his belief that his bank was treated unfairly by the Department of Justice in the $13 billion settlement. Instead of penalizing the bank for its bad behavior, Dimon argued, it should be celebrated for helping to save the financial system from its further free fall. That may be true to some degree, but Wagner’s 92-page draft complaint puts the wood to Dimon’s spin machine and shows that he and his colleagues at the bank were no different than the rest of the Wall Street banksters who received big bonuses for packaging up mortgages they knew would not be repaid into securities that they could sell to investors for big fees. Dimon’s pay package for 2013, the year of the big government settlement, was $20 million—a raise of 74 percent from the year before. So, sure, enlighten me friend.

Lkjhmnbv 8y ago
>Wall Street banksters who received big bonuses for packaging up mortgages they knew would not be repaid Who underwrite the loans? Who recommended the loans be written? The whole thing is complicated. A single article is nothing more than a start. I'm ony phone, but I highly suggest researching each party and their justifications for their actions and make your own conclusions rather than expecting some external source to spoon feed it to you.
- cityzen 8y ago
  It's my opinion that big banks are good for nothing. yes, I do believe people should take a little moral inventory before joining an institution that has a history of penalties like this: Top 10 Primary Offense Types toxic securities abuses $13,450,500,000 mortgage abuses $5,411,600,000 banking violation $4,012,350,341 anti-money-laundering deficiencies $2,161,000,000 False Claims Act $614,000,000 foreign exchange market manipulation $550,000,000 consumer protection violation $520,500,000 investor protection violation $434,054,000 securities issuance or trading violation $427,324,210 energy market manipulation $410,000,000 this is the top 10. That is around 27 billion in penalties for non-trivial violations. You can download every one of these records here: https://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase https://violationtracker.goodjobsfirst.org/parent/jpmorgan-c...
  - Lkjhmnbv 8y ago
    So you agree with Steve Bannon. I'm not saying you're wrong, I'm saying you're over generalizing. And you would never accept other generalizations like the one you're making. For instance the democratic party is good for nothing because Anthony weiner is in jail for soliciting sex with a minor. You could make that argument. Still too one sided.