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(March 28th, 2008 under Economic News )

Buy Dalmane Without Prescription, Here is a great story which provides an inside look at the Bear Stearns bail out by focusing on the Chairman of JPMorgan Chase, Jamie Dimon.

Quote:

The Monday after a long working weekend, where to buy Dalmane, Dalmane over the counter, Jamie Dimon looked a little tired. His collar was unbuttoned, order Dalmane from mexican pharmacy, Where to buy Dalmane, his tie loosened, and he was slouching slightly in his office chair, buy generic Dalmane. Dalmane trusted pharmacy reviews, The week before, he had turned 52 years old—a bunch of balloons was still tethered in the corner of his office—and his hair was whiter than most recent photos show, order Dalmane online c.o.d. Ordering Dalmane online, But he was far from worn out. Dimon, the chairman and CEO of JPMorgan Chase, had just won the biggest game of his life, Buy Dalmane Without Prescription.

Sunday, buying Dalmane online over the counter, Dalmane samples, March 16, 2008, comprar en línea Dalmane, comprar Dalmane baratos, Buy cheap Dalmane, will go down in history one way or another. Depending on how things develop from here, australia, uk, us, usa, Purchase Dalmane online, it might be considered the day Dimon helped save Wall Street. While he certainly wouldn’t put it that way, Dalmane over the counter, Where can i buy cheapest Dalmane online, his shocking triumph that evening—an agreement, brokered by Ben Bernanke, real brand Dalmane online, Canada, mexico, india, the Federal Reserve chairman, to take over Bear Stearns, purchase Dalmane, Rx free Dalmane, a Wall Street institution, for the pretty-much-laughable price of $2 a share—may have in the process helped avert a financial panic the likes of which hasn’t been seen since 1929, buy cheap Dalmane no rx. Order Dalmane no prescription, Or maybe Dimon will have to settle for the trophy for best deal ever, spending just $260.5 million for a company whose last reported net worth was $11.7 billion and whose lavish Madison Avenue headquarters alone is estimated to be worth more than $1 billion, order Dalmane from United States pharmacy. Buy Dalmane Without Prescription, ... Dalmane price, coupon, Then, last summer, Dalmane for sale, Online buying Dalmane hcl, the credit markets seized up, and the banks had no way to fund their obligations without dipping into their own capital, Dalmane gel, ointment, cream, pill, spray, continuous-release, extended-release. Dalmane from canadian pharmacy, Citi had to take $58 billion of SIVs onto its balance sheet, crippling the company, purchase Dalmane online no prescription. Buy no prescription Dalmane online, JPMorgan lost nothing in the SIV debacle. After conferring with Bill Winters and Steve Black, buy Dalmane from canada, Buy Dalmane online no prescription, JPMorgan Chase’s co-heads of investment banking, in 2005, where can i buy Dalmane online, Order Dalmane online overnight delivery no prescription, Dimon agreed to sell the single SIV the bank had on its books. Why, Buy Dalmane Without Prescription. “Because no matter what kind of equity we might have had to commit toward it, fast shipping Dalmane, we still considered it an unacceptable return,” Winters told me in late February.

Here another of Dimon’s most referenced character traits—his tendency toward micromanagement—came into play. Did deposed Citigroup chairman Chuck Prince (who got the job that would have been Dimon’s) have conversations with his bankers about whether Citigroup was overexposed to SIVs. If he did, he obviously made the wrong call. Buy Dalmane Without Prescription, Dimon also steered the bank mostly clear of CDOs, or collateralized debt obligations, another fancy bit of financial gimcrackery that purported to turn risky investments into safe ones, as if by magic. CDOs were one of Merrill Lynch’s great profit centers—in 2007, the firm underwrote $31 billion worth of them, compared with just $4 billion for JPMorgan, and then made the fateful decision to hold on to some of the highest-yielding (and riskiest) portions thereof. You can think of these Wall Street firms as drug dealers who forgot the cardinal rule of the trade: Don’t start taking the junk yourself.

...
More to the point: In contrast to the chatter about Citigroup, no one is talking about breaking up JPMorgan Chase. While the cross-selling synergies have proved more elusive than originally anticipated, one clear benefit of a financial conglomerate is the sheer size of its balance sheet—JP Morgan has $1.56 trillion in assets, the kind of heft that allows it to absorb, say, an imploding investment bank with only a couple of days’ notice.

Here is a link to the entire article: http://nymag.com/news/features/45320/

Michael.

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This entry was posted on Friday, March 28th, 2008 at 3:56 pm and is filed under Economic News .


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