Get out your checkbooks...

[salsashark]

Oh, and bend over... here we go again...

http://www.bbc.co.uk/news/business-18030022

JPMorgan reveals shock $2bn trading loss on investments

JPMorgan Chase, the biggest US bank, has revealed a surprise trading loss of at least $2bn (£1.2bn) on complex investments made by its traders.

Here's the part that really pisses me off...

"Taxpayers ultimately have to bail out these 'too big to fail' banks. And that's what JPMorgan is - it is too big to fail," he told BBC World Service radio.

WHY??????

Why the hell do we have to pick up the tab for these idiots? I can not stand the whole concept of privatized gains and socialized losses... F that! When I screw up, I pay for it... plain and simple. This whole "too big to fail" crap is exactly that.

I say we take off and nuke the entire site from orbit.

[Ghosty]

After the AIG fiasco, Americans are sick of the "too big to fail" bullshit. Nothing surprises me, but I'm hoping the government does NOT give these CRIMINAL CLOWNS yet another chance. They got their one save already.

I forgot why we saved those big banks last time? Oh yeah, it was so they wouldn't get their megayachts & Lambo's repo'd. And people wonder why the 'Occupy' people are so pissed...

[Sean]

Salsa- why do you choose to ruin my Friday?

[salsashark]

Salsa- why do you choose to ruin my Friday?

because The Chive is blocked at my office so all must suffer

[Zach929rr]

Step 1) Government WILL bail them out again
Step 2) US will begin defaulting on large portions of debt
Step 3) WWIII

[Sean]

because The Chive is blocked at my office so all must suffer

Valid. Proceed.

[Ezzzzy1]

Its funny to me that the whole industry just excepts this shit. In their minds stuff like this just happens from time to time.

Complete bullshit. I have know a few big shots over the years and for the most part they are all ass hats out of the movie Boiler Room. Rolling the dice with other peoples money and when the end is neer doing everything they can to personally gain as much as they can before the roof collapses.

Worst part? That these companies get bailed out instead of burning down. Meaning they will still be doing shitty business in a year. Probably the most frustrating thing to watch.

They know what they are doing. There are a ton of pictures out there that capture the awesomeness of these loosers realizing they just lost everything.

[Schiff32]

That just means that someone else made 2b .... try to be a glass is half full person

[CYCLE_MONKEY]

These execs screw up, lose money, we pay for their stupidity, and they still get their bonuses and golden parachutes. I'd vote for a prez willing and able to go after these clowns......even Obama. There, I said it.

[salsashark]

These execs screw up, lose money, we pay for their stupidity, and they still get their bonuses and golden parachutes. I'd vote for a prez willing and able to go after these clowns......even Obama. There, I said it.

Eliminate that third step and let these companies who live by the sword, die by it as well.

I have no problem w/ execs getting paid. If you were offered it, you'd take it as well. I have HUGE issues w/ the gov coming in, bailing them out, and then preaching to us about fiscal responsibility all the while never setting up the governance they promised.

[Ezzzzy1]

Eliminate that third step and let these companies who live by the sword, die by it as well.

I have no problem w/ execs getting paid. If you were offered it, you'd take it as well. I have HUGE issues w/ the gov coming in, bailing them out, and then preaching to us about fiscal responsibility all the while never setting up the governance they promised.

aaand if you fuck up and miss a mortgage payment or loose your job and cant make a cc payment, the same company that is a piss-poor example of paying debts, shoves it up your ass.