Letters to the Editor

Your views in 200 words or less

Tag: jp morgan


DEBT: Accountability needed for FDIC insured

Re: “Fix government spending, not JP Morgan” (letter, 5-17).

The writer complains about the “big-government types” like President Obama wasting millions of dollars on “nitwit” ideas that have made our country into a nation of “loafers” waiting for their next paycheck.

Let’s examine some of the facts. While JP Morgan is a public company, it is also backed by the government’s FDIC program that covers their hedges (code for gambling) with institutions’ and individuals’ monies. So when it comes looking for a bailout, naturally the need for accountability is obvious.

Even the Swiss government had to bail out one

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DEBT: Fix gov’t spending, not JP Morgan

Last week, Jamie Dimon of JP Morgan announced that some trading errors that occurred at his company as a way to hedge the company’s portfolio resulted in a $2 billion dollar loss. Big government types like President Obama and the rest are now calling for investigation and more supervision.

Let’s see, JP Morgan is a public company. The loss is a lot of money, however, they will still earn money for their share holders for the first quarter.

Big government types like Obama have wasted money far faster. They have given us the $800 billion dollar stimulus bill, the multi-trillion

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