Jamie’s Cryin’: Dimon says he’s tired of complaints about banker pay and bonuses
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Another day, another classic VH tune fits the lede, Jamie Dimon is pushing back against the ‘rising populist tide’ in re banker bonuses and pay. If you have been here before, you know we are big fans of Jamie and wanted him for Treasury Secretary. We like that he is a fighter.
But we also know the banking industry and Wall St selected obama as their candidate for a reason, and since it is Obama ginning up the faux populism and then slamming we Tea Party Patriots for being concerned about Government spending, well, Jamie needs to talk to the WH, not the people, WE are not the problem…..
…Jamie Dimon defended the bank’s pay policies on Monday and said he was “tired” of his employees being vilified over bonuses.
Rising bonuses have drawn criticism from politicians and others, who complain Wall Street’s losses seem to be socialized while its profits are privatized.
Dimon, along with the chief executives of Goldman Sachs Group Inc (GS.N), Morgan Stanley (MS.N) and other big banks, will be appearing this week before a commission created by Congress to look into causes of the financial meltdown.
JP Morgan pays its employees for sustained performance over multiple years, Dimon said on Monday.
“We do not have change-of-control agreements, special executive retirement plans, golden parachutes, special severance packages or merger bonuses,” he told a JP Morgan healthcare conference, adding that many of company’s employees are in client-facing jobs and work hard with small and mid-size businesses.
“I am a little tired of the constant vilification of these people,” he said….
PS Jamie says Commercial R.E. is a ‘train wreck’ but we knew that was coming…..
Ain’t Talkin’ ’bout Love: moderate Dems should support Scott Brown (MASS) and Sue Lowden (NV)
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I know this is sacrilege for a lot of Dems, but at this point I am supporting Scott Brown and Sue Lowden. Ask yourself something Democrats, who the hell are we supporting and why?! These Democratic Senators killed prescription drug reimportation, they are gutting Medicare, they are rolling over on the main issues that the party platform espouses in re women and progressive taxation.
Sarah on running (and rock!)….
Too good not to steal, over at Ace HQ, an article on Sarah from Runners’ World
Do you listen to music during your runs?
I go through cycles there, too. Right now I’m not listening to anything but probably in a month or two I’ll start craving music. That’s the way it’s been for the 35 years. Parts of the year I want to listen to something, parts of the year I don’t. When I do listen, I crank up old Van Halen, old AC/DC
Song change!! Ricky on the Ace thread points out the perfect song for this post:
*Song courtesy of redbirdfan126:
From the 1984 album. I’d like to take the time to say Fuck You, WMG. That is all.
Oh yeah baby, I knew this woman was fabulous, there she goes confirming it again, listens to classic hard rock and quotes Plato, runs miles and miles, I think she’s awesome… :0) h/t pajamamomma for the quote
…But the most precious experience I’ve had running was a few summers ago when I was training for a marathon and my son Track—and I named him Track for running—would drive out in front of me and plant water bottles along the route. I felt so spoiled, like the queen of the running world to have a kid who was all cool with his pickup truck, dropping off water for me on my long runs. And he’d put a note on the bottles, saying, “Love you, mom” and “Run hard, mom.” It was just the most precious summer of my life to have that and then to cap it off with an all-time marathon best [3:59:36]. I wouldn’t trade it for anything in the whole world….
Market Mover Tuesday: Case-Shiller Housing Index…
Just released Case-Shiller Housing Index:
10 of 29 Metro Areas show record rates of annual decline
15 metro areas showed price declines of over 10% vs Feb of 08
10 city composite posts annual decline of 18.8% in February
20 city composite down 18.6%
here is how CNBC morning crew is spinning this to be a good number:
Annual home price decline did not set a new record for the first time in 16 months
well alrighty then, let me pop my Korbel cork right now, LOL…..
So the Delta is slowing, that would be IMO the foreclosure sales, however we still have a RECORD inventory out there and with the foreclosure moratoriums ending I suspect prices will fall farther as those ‘shadow inventory’ short sales hit the market…but by all means it is good if the rate of decline would frakkin slow or better stop…or you know actually show an increase in value, HA!
Dow futures are sharply lower after the Dow ended yesterday down 50+, futures down -103 before the open…
*VH House of Pain courtesy of 5150EVH5150
*Straight off of the Gene Simmons Demos, the House Of Pain! Its basically just the basic riff from the 1984 HOP, with different choruses, different verses, and a different solo. The Intro and outro to the solo are also in the 198 HOP, although in different places here. Enjoy!
Moderate in the Middle 