Posted on 03/04/2009 7:48:36 PM PST by TigerLikesRooster
What Isn't JP Morgan Telling Us About Its Exposure To GE? (GE, JPM)
John Carney|Mar. 4, 2009, 4:57 PM|12
Tags: Wall Street, GE, Stocks, Debt, Jeff Immelt, JP Morgan, Jamie Dimon
Traders today were talking about rumors that JP Morgan Chase might have some outsized exposure to General Electric, which has been in a free fall all week. Citigroup analysts are the first to come out and publicly raise the question of JP Morgan's exposure.
According to StreetInsider, Citi's analyst said, "While JPM management would not comment on its exposure to GE or GE Capital, JPM did say that a downgrade of GE or GE Capital would not have a material impact on JPM's results."
Ping!
Why should we trust Citi on anything at this point, particularly when they are attacking their crosstown rival.
Chase recently scooped up my mortgage. They appear to be solvent.
Who would have thought they’d ever be talking about a bank’s “exposure to GE”?
It won't help that every one of them trying to short others to make badly needed money.
It seems that they are destined to self-destruct as a group.
how long do you think before GE goes bankrupt?
Not, I.
I have a relative that has been with GE through the entire Apollo launches with NASA and actually designed that little
button in your restroom that resets your electric GFCI?
No 401k was available then, it was all company stock. Now he is retired ...still my hero, and he can always come live here. It would be my honor.
Bottom line: GE is run by a complete idiot. He couldn’t run a lemonade stand. BTW, Citi’s top management is a bunch of clowns, too.
To be honest though, I actually did not know he invented and designed that little button in your bathroom, untill I married. My husband told me,how lame is that. I am sure I wasn’t listening.
Didn't GE make engines and appliances at one time, or am I confusing it with another company?
Who wound up with Tonka Toys.... I miss my solid steel trucks.
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