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U.S. Sen. Bob Corker calls for hearing on JPMorgan's $2B trading loss(Let the show trials begin!)
Times Free Press ^ | May 15th | Associated Press

Posted on 05/15/2012 6:51:35 PM PDT by Halfmanhalfamazing

WASHINGTON -- Sen. Bob Corker, a Republican who serves on the Senate Banking Committee, has called for a hearing on the $2-billion trading loss by JPMorgan Chase & Co., saying that "policies are going to be derived out of what’s happened."

Corker, who was a key participant in the debate over the 2010 financial reform law, said it was important for policymakers to get the facts about the situation and whether pending regulations would have prevented it.

(Excerpt) Read more at timesfreepress.com ...


TOPICS: Front Page News; News/Current Events; US: Tennessee
KEYWORDS: biggovernment; bobcorker; ceos; corker; greed; homosexualagenda; jpmorgan; markclayton; showtrials; statism; tennessee; tn
Oh great. So the show trials are being started by republicans? Are you serious?

Are they gonna drag the CEO up there and grill the heck out of him? Why don't we have the republicans drag big eeeeeeeeeeeeeeeevil oil company CEOs up there too. Let's all call our republican senators and encourage them to drag the CEOs from the other banks into the senate as well. Why not? What the heck?

I mean, really. Republican show trials? I can't take it.

When is Corker's re-election? Can we primary him out of existence with a conservative? I hope it happens.

Or am I just reading this all wrong. Can someone come around here and tell me that I'm wrong? I'd rather be wrong than live through republican show trials.

I'm sorry for ranting, but this pisses me off. Let Harry Reid call for show trials. Let the bearded marxist call for show trials. We're supposed to be opposed to this kind of crap! I don't want to live in a banana republic.

It really pisses me off. So if PRIVATE companies make too much money, we need more government. If they lose money, we need more government. And it's being called for by a republican. URG!

1 posted on 05/15/2012 6:51:47 PM PDT by Halfmanhalfamazing
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To: Halfmanhalfamazing

I have yet to see a media outlet put this in the perspective that even with the $2Billion loss on a trade, they still made an overall profit.


2 posted on 05/15/2012 6:54:12 PM PDT by mnehring
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To: mnehring

The media has this country by the throat.


3 posted on 05/15/2012 6:57:19 PM PDT by Halfmanhalfamazing ( Media doesn't report, It advertises. So that last advertisement you just read, what was it worth?)
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To: mnehring
I have yet to see a media outlet put this in the perspective that even with the $2Billion loss on a trade, they still made an overall profit.

believe it or not, NPR radio had some academic on doing just that this morning.

4 posted on 05/15/2012 6:59:38 PM PDT by the invisib1e hand (they have no god but caesar)
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To: Halfmanhalfamazing

If the taxpayer isn’t on the hook for their $2 billion loss why should I care? That’s between them and their customers.


5 posted on 05/15/2012 6:59:50 PM PDT by DB
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To: Halfmanhalfamazing
Sen. Bob Corker, a[n] Republican Assclown...

FIFY

6 posted on 05/15/2012 6:59:50 PM PDT by Drill Thrawl (The United States of America, a banana republic since 1913)
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To: Halfmanhalfamazing
company loses money. congress demands hearings.

beam me up, scottie.

7 posted on 05/15/2012 7:00:32 PM PDT by the invisib1e hand (they have no god but caesar)
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To: mnehring

Corker is a RINO. He is selling us down the river on Fannie Mae and Freddie Mac working with Reed from Rhode Island on a crony deal.


8 posted on 05/15/2012 7:01:15 PM PDT by whitedog57
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To: Halfmanhalfamazing; tomkat; All
Hello all. How you loose so much money, and not be in jail? [Romanian native > ESL]
9 posted on 05/15/2012 7:03:11 PM PDT by MCSP2008
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To: Halfmanhalfamazing
Many years back, I made the mistake of getting myself into a position where I wound up driving the boat at an instrumentality of my state government.

I would frequently get "asked" to show up to "testify" about this or that, and I would always just respectfully (sham respect) decline.

If you show up in the same place with these people, you lend them credibility.

10 posted on 05/15/2012 7:10:04 PM PDT by elkfersupper ( Member of the Original Defiant Class)
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To: MCSP2008

It’s called CAPITALISM....it’s a PRIVATE COMPANY! It’s NOT the PEOPLE’s money (government). Overall, they MADE A PROFIT! If there was NO risk taking in America, there would be NO CAPITALISM, and the world would be a really bad place...kinda like the direction it is heading in right now with the Democrats and RINO’s (socialists) running the government.


11 posted on 05/15/2012 7:22:01 PM PDT by goodnesswins (What has happened to America?)
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To: Halfmanhalfamazing

For crying out loud WHY THE NEED FOR THIS HEARING?

Did JP Morgan ask us for a bailout? If not, then it’s THEIR LOSS, LET THEM TAKE CARE OF THIS ON THEIR OWN AS LONG AS WE DON’T USE ANY TAX PAYER MONEY..

Let’s get some perspective on this folks. JPM has $2.2 TRILLIONS (right with a T ) in Asset and made $90 Billion last year. What’s a “mere” $2 Billion to them?

Congress wastes more than that in a day.


12 posted on 05/15/2012 7:26:00 PM PDT by SeekAndFind
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To: mnehring

FNC has done it regularly!


13 posted on 05/15/2012 7:28:19 PM PDT by Red_Devil 232 (VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!)
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To: Halfmanhalfamazing

They lost $2 Billion on some risky trades but still earned a $4 Billion profit for the quarter. Meanwhile our government lost an average of $400 Billion each quarter last year. Maybe JP Morgan should investigate Congress.


14 posted on 05/15/2012 7:30:47 PM PDT by csmusaret (Obama's new slogan: "Fo Mo Mo Fo.")
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To: goodnesswins; tomkat; All
Salve. I agree it is gambling, either you have win or you have loose. After all, it is like playin cards of poker, you win or you loose, but you make that decision. And one wins, another looses, part of life. [Romanian native > ESL]
15 posted on 05/15/2012 7:33:00 PM PDT by MCSP2008
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To: Halfmanhalfamazing

"We have to protect our phoney baloney jobs here, gentlemen! We must do something about this immediately! Immediately! Immediately! Harrumph! Harrumph! Harrumph!"

16 posted on 05/15/2012 7:38:05 PM PDT by dfwgator
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To: Halfmanhalfamazing

We are entering an era now where people are looking for no loss/risk guarantees in the stock market. Good luck with that.

Then we have pandering idiot politicians like Corker looking to get their fingers into it and screw it up even more.


17 posted on 05/15/2012 7:48:28 PM PDT by headstamp 2 (Liberalism: Carrying adolescent values and behavior into adult life.)
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To: Halfmanhalfamazing

obama has $500001 to $1 million of JPMorgan. Therefore, I hope JPM drowns in red ink and the $2B trading loss completely trumps obama’s investment.


18 posted on 05/15/2012 7:55:30 PM PDT by jmax (Ahhhh...life is so frigging good in the obama nation.)
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To: Halfmanhalfamazing
How bout an investigation into the TRILLIONS of dollars lost SQUANDERED by this friggin so called government we have????

I don't see these idiots yelling for that!

They should all be hanging from trees after they've been tarred and feathered!

19 posted on 05/15/2012 8:02:51 PM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: Halfmanhalfamazing

The only politician qualified to get to the bottom of it is Barney Fwank.


20 posted on 05/15/2012 8:34:42 PM PDT by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: Halfmanhalfamazing
Who's kidding Who ? i think this was done Intentionally so the government can slide right in and take over everything Its already Systematically destroyed the Economy what better way to finish it of by controlling one of the biggest “Can't fail” banks all they need is one and they needed a vehicle to start the exercise rolling !
21 posted on 05/15/2012 9:48:21 PM PDT by ATOMIC_PUNK (Any man may make a mistake ; none but a fool will persist in it . { Latin proverb })
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To: Halfmanhalfamazing

I have to disagree with you on this one. I think there’s evidence coming soon that the money went straight to Hussein’s re-election campaign.


22 posted on 05/15/2012 10:31:06 PM PDT by Greg123456
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To: Halfmanhalfamazing

When is the hearing or trial for California’s corrupt money-drunk $16 billion in debt (oops; including the “unexpected” $9 billion increase from what we were told prior to last week) lying thieves going to be held?! Why aren’t people in JAIL over this grift job that is causing the producers to FLEE the state and taking jobs with’em?! Moonbeam v2 (same as v1 but way less hair) is literally SHAMELESS asking (no, threatening) the remaining 17 legal, self-sufficient Californians with jobs to pay more taxes. OMG, freakin’ vampires. We can’t even get a show-trial because WAIT LOOK OBAMA SuPPORTS Gay Marriage! WOW!

What was I thinking about?


23 posted on 05/15/2012 11:16:40 PM PDT by MonicaG (God bless our military! Praying and thanking God for you every day. Thank you!)
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To: DB

Exactly. This is just shuffling deck chairs, looking “busy” and “concerned.”


24 posted on 05/15/2012 11:18:27 PM PDT by MonicaG (God bless our military! Praying and thanking God for you every day. Thank you!)
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To: dfwgator
That's still funny, and represents 98% of our government☺
25 posted on 05/16/2012 4:10:36 AM PDT by Quickgun (Second Amendment. The only one you can put your hands on.)
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To: unixfox

Why waste perfectly good tar and feathers?


26 posted on 05/16/2012 4:25:40 AM PDT by abishai
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To: DB

“If the taxpayer isn’t on the hook for their $2 billion loss why should I care? That’s between them and their customers.”

Agreed, except for the fact that taxpayers remain on the hook for the losses of investment banks. Break them up into either commercial or investment banks. There were clear simple laws on the books that worked for many decades that kept the rules simple and protected taxpayers.

We taxpayers shouldn’t have bailed out the banks. Bush, Paulsen, Obama, Geithner and Congress were hoodwinked into saving shareholders. Instead these banks should have been permitted to go bankrupt and all shareholder equity lost along with investments marked to market. The US Treasury could have guaranteed deposits and money markets. The banks then reorganized and the subsequent IPO used to reimburse taxpayers. In the end it would have been less costly and the bankers and investors who took risk would have learned.


27 posted on 05/16/2012 6:03:07 AM PDT by apoliticalone (Honest govt. that operates in the interest of US sovereignty and the people, not global $$$)
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