And Now For Tonight's Prime Time Event: The Durbin-Dimon Smackdown

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Wed, 04/13/2011 - 18:21 | 1166970 ghostfaceinvestah
ghostfaceinvestah's picture

Poor Dimon, one of these days someone will call his bluff and he will destroy his own company out of spite.  Now THAT will be a Prime Time event to see.

Wed, 04/13/2011 - 18:28 | 1166983 cswjr
cswjr's picture

If I were taking that route, I'd show the world all of the "bullion" inside JPM's new vault.  Silver to the moon, USD to the deck.

Wed, 04/13/2011 - 18:57 | 1167071 Long-John-Silver
Long-John-Silver's picture

JPM insider provides picture of it's new bullion safe.

http://www.judaic.com/judaica/sterling-silver-charity-boxes/sterling-sil...

Wed, 04/13/2011 - 19:16 | 1167125 NOTW777
NOTW777's picture

LOL

Wed, 04/13/2011 - 18:35 | 1167003 Shameful
Shameful's picture

Or he'll use his access to infinite dollars to destroy all opponents. When you have infinite dollars and don't care about other people/dollar users one can work wonders.

Wed, 04/13/2011 - 19:04 | 1167088 NotApplicable
NotApplicable's picture

And... what do infinite dollars imply? Why zero value, of course.

Destruction guaranteed!

Wed, 04/13/2011 - 19:23 | 1167133 Twindrives
Twindrives's picture

Jamie Dimon better enjoy his stay on Earth cause it ain't going to be so cool to be a banker where he is going. 

Wed, 04/13/2011 - 18:27 | 1166976 ghostfaceinvestah
ghostfaceinvestah's picture

Simon Johnson's article that Durbin cites is worth reading for background:

http://economix.blogs.nytimes.com/2011/04/07/big-banks-have-a-powerful-n...

 

Wed, 04/13/2011 - 18:25 | 1166977 DeweyLeon
DeweyLeon's picture

I guess it takes a Dick to beat a dick. Here's to hoping Durbin isn't FOS on this.

Wed, 04/13/2011 - 18:38 | 1167004 redpill
redpill's picture

It's probably a regulatory clusterfuck per usual, but that doesn't mean Dimon isn't wrong also.

 

I hope Dick doesn't enjoy spending time in the hot tub.

Wed, 04/13/2011 - 18:37 | 1167008 chumbawamba
chumbawamba's picture

Yeah, whatever.  Dick's check is in the mail for his latest soliloquy.  Everyone feels vindicated that finally someone in Washington did something, then the next distraction comes along.  And Dimon votes himself another salary hike and bonus.

When will you dupes ever learn?

I am Chumbawamba.

Wed, 04/13/2011 - 18:45 | 1167029 redpill
redpill's picture

Of course if everyone bought their shit with cash and didn't borrow a dime from these dogs, none of this would even matter.

Wed, 04/13/2011 - 18:50 | 1167047 Gold 36000
Gold 36000's picture

Ive tried to get people to take their money out of the banks, at least twenty percent of their savings if nothing else.

Wed, 04/13/2011 - 20:37 | 1167366 chumbawamba
chumbawamba's picture

I've basically given up trying to reach anyone anymore.  I still pontificate but it's mostly empty and hollow, just like the heads of those with whom I'm usually speaking.

The only thing you can do is keep buying ammo and get in lots of range time to prepare for what's coming.

I am Chumbawamba.

Wed, 04/13/2011 - 18:28 | 1166978 Gold 36000
Gold 36000's picture

somebody needs to take out Jamie Dimon.

Wed, 04/13/2011 - 18:40 | 1167014 chumbawamba
chumbawamba's picture

Are you running for president?  Because with solid and workable solutions to our problems like this, I'd vote for you.

I am Chumbawamba.

Wed, 04/13/2011 - 18:46 | 1167032 NotApplicable
NotApplicable's picture

While solid and workable solutions are fine, I'm holding out for comprehensive ones.

4 syllables = better

Wed, 04/13/2011 - 18:47 | 1167044 Gold 36000
Gold 36000's picture

I hadn't thought about it.

But you know I might.

My platform is simple.

I will set up an exploratory committee and get back with you.

Wed, 04/13/2011 - 20:13 | 1167286 Irwin Fletcher
Irwin Fletcher's picture

Just please don't replace him with Turbo Timmy.

Wed, 04/13/2011 - 18:30 | 1166982 BKbroiler
BKbroiler's picture

How did this guy get elected to the senate?  He sounds expensive.

Wed, 04/13/2011 - 20:22 | 1167309 RockyRacoon
RockyRacoon's picture

The Durbin staffers who wrote this certainly need a promotion, but they'll probably just get jobs a JPM instead.   Moving right along....

Wed, 04/13/2011 - 20:46 | 1167385 BKbroiler
BKbroiler's picture

"a promotion", exactly.  Soon we get the "Durbin Bill", a big mea culpa from the big boys, a pay off to water the bill down, and....nothing.

Wed, 04/13/2011 - 18:29 | 1166987 Manny
Manny's picture

Its like pouring water on a rock!

Wed, 04/13/2011 - 21:17 | 1167485 dark pools of soros
dark pools of soros's picture

waterfalls are nice this time of year

Wed, 04/13/2011 - 18:29 | 1166988 bob_dabolina
bob_dabolina's picture

Debit interchange reform.

Of all the things fucked up this is what they are waisting their time on.

Not impressed.

Wed, 04/13/2011 - 18:42 | 1167019 spekulatn
spekulatn's picture


Debit interchange reform.

Of all the things fucked up this is what they are waisting their time on.

 

+1 bob_dabolina.

Two dicks, same team. 

 

Wed, 04/13/2011 - 19:15 | 1167114 equity_momo
equity_momo's picture

The US political system is an Hamephrodite. A dick and a pussy that share the same brain.

Wed, 04/13/2011 - 19:23 | 1167134 bob_dabolina
bob_dabolina's picture

*wasting

woops

Wed, 04/13/2011 - 18:46 | 1167041 Gold 36000
Gold 36000's picture

it had bipartisan support and the approval of the fed.

That is what is required to move legislation nowdays.

Wed, 04/13/2011 - 19:04 | 1167092 FoodTiger
FoodTiger's picture

Next week Dick introduces his internet tax proposal.

Wed, 04/13/2011 - 19:29 | 1167147 Arkadaba
Arkadaba's picture

Every time you or I use a debit card (encouraged btw) - it costs us. I agree that it is small potatoes but costing mom and pop.

Wed, 04/13/2011 - 18:32 | 1166990 Spalding_Smailes
Spalding_Smailes's picture

J.B. Hunt Transport Services Inc. posted a 34% rise in first-quarter profit, aided by volume growth at the trucking company's intermodal business and higher rates.

The U.S. transportation sector's rebound has continued for several quarters, and trucking firms have benefited from large cuts in capacity, an uptick in demand and better pricing. J.B. Hunt said Wednesday that weather contributed to tight capacity in the trucking segment but also added to costs. "With the effects of winter weather and rapidly rising fuel costs, it was a tough quarter to get through as well as we did," J.B. Hunt Chief Executive John N. Roberts said in a prepared statement.J.B. Hunt Transport Services Inc. posted a 34% rise in first-quarter profit, aided by volume growth at the trucking company's intermodal business and higher rates.

http://online.wsj.com/article/SB1000142405274870355130457626130402525482...

 

 

Back to 2006 growth ( 96.5 )

 

MINNEAPOLIS, Minn. & LOS ANGELES, Calif., April 12, 2011 – The Ceridian-UCLA Pulse of Commerce Index™ (PCI), a real-time measure of the flow of goods to U.S. factories, retailers and consumers, rose 2.7% on a seasonally and workday adjusted basis in March, more than offsetting the 0.3% decline in January and the 1.5% decline in February. On a quarter over quarter basis, the PCI is up 3.9% at an annualized rate, a welcome acceleration from the relatively weak growth of the PCI experienced in the second half of 2010.

“The PCI growth of 3.9% for the first quarter of 2011 is a middle-of the-road number, signaling that we are not in either one of the extremes. In other words, the recession is over, but we are not yet experiencing a robust recovery,” said Ed Leamer, chief PCI economist and director of the UCLA Anderson Forecast. “This means that for the coming quarter, the PCI is expecting GDP growth close to historically normal levels of around 3% and normal increases in payroll jobs at approximately 150,000 per month. The unemployment rate is likely to hold stubbornly to its current level but could be driven down by discouraged workers dropping out of the labor force.”

“March represents the sixteenth consecutive month of year-over-year growth in the index"

http://www.ceridianindex.com/

Wed, 04/13/2011 - 18:42 | 1167025 Gold 36000
Gold 36000's picture

There is hope in spite of obama's best efforts.

Thu, 04/14/2011 - 06:39 | 1168101 knowless
knowless's picture

What is the Ceridian-UCLA Pulse of Commerce Index™?

ceridian takes the feds numbers and adds diesel bought by truckers with a ceridian debit card..

they do not account for any independant drivers, or any company that does not use ceridian to manage their fuel purchases, so unless ceridian has a pretty significant market share, this seems pretty useless.

Wed, 04/13/2011 - 18:35 | 1166996 Catullus
Catullus's picture

Hey Dick Durbin and aides of Dick Durbin, why did you vote for TARP your spineless piece of dogshit?  Check your bottom half.  You have no legs to stand on.  Go fuck yourself.

Signed,

Jamie Dimon

Wed, 04/13/2011 - 18:36 | 1167001 I am more equal...
I am more equal than others's picture

Dicked Dimon.  More to come....

Wed, 04/13/2011 - 18:43 | 1167023 DR
DR's picture

Now...now...WallStreet is having a tough time too...

The Wall Street Mind: Anxious.

http://nymag.com/news/business/wallstreet/john-gapper-2011-4/

"Nonetheless, despite all the reasons for celebration, the mood inside many banks is downbeat, even paranoid...... More important, many fear that the twenty-year bull run that led up to the crash, when bonuses, debt, and leverage all grew to what turned out to be unsustainable levels, may turn out to be a golden age that will never return. Wall Street feels not only loathed but also fearful."

Wed, 04/13/2011 - 18:44 | 1167028 Gold 36000
Gold 36000's picture

they better be paranoid.

Most of them better have good security details.

Someone is going to take a few of them out eventually.

Even the taliban has talked about it.

I will celebrate and make it an annual holiday and

pilgrimage as I go piss on their graves.

Wed, 04/13/2011 - 18:52 | 1167051 BKbroiler
BKbroiler's picture

That's true for Finance and Real Estate.  Not as many 22 year old coked out analysts making 200k at my desk these days.  The quants that replaced them are much friendlier.

Wed, 04/13/2011 - 18:45 | 1167036 HROLLER
HROLLER's picture

The FDIC robbed a SOLVENT Wamu and gave it's assets to JPM/Chase. It must be nice for JPM/Chase in making a killing from those deposits, credit card division, property, 2200 branches, loans, when they only aid $1.88 billion. Well, the hedge funds have tried to take control of the bankruptcy case and they are trying to give JPM approx. $2 billion in tax refunds. The equity committee is about to give them a smack-down.

Wed, 04/13/2011 - 19:00 | 1167037 Bay of Pigs
Bay of Pigs's picture

Jamie "Legs" Dimon is Gozer the Gatekeeper?

Wed, 04/13/2011 - 18:48 | 1167048 apberusdisvet
apberusdisvet's picture

News Flash:  Senator Richard Durbin has been admitted to Walter Reed Hospital for mysterious chest pains.

News Flash:  Durbin in ICU; news at 11

Breaking Presidential Address:

 

My fellow Americans:  I regret to inform you of the passing of a great American.....

Wed, 04/13/2011 - 18:48 | 1167049 Auricle of Omaha
Auricle of Omaha's picture

I'm no fan of the banks but I offer Debit/Credit option to my customers for their convenience of paying me money. I'd love to pay less for the merchant fees, but in the end, if the charges get to be too much, I just eliminate accepting credit cards of any type. I've already eliminated American Express because it's so expensive.

Besides, I love the smell of fiat in the morning!

Wed, 04/13/2011 - 18:56 | 1167069 Gold 36000
Gold 36000's picture

fiat does not leave an electronic record

Wed, 04/13/2011 - 20:23 | 1167322 RockyRacoon
RockyRacoon's picture

...yet.

Wed, 04/13/2011 - 21:51 | 1167595 Ned Zeppelin
Ned Zeppelin's picture

I can't believe people carry Amerikan Express for any reason whatsoever. 

Wed, 04/13/2011 - 18:53 | 1167050 New_Meat
New_Meat's picture

Pains me to admit: I'm on Jamie's side.

http://www.youtube.com/watch?v=MqIlXfkylD4

this pigfucker has got to be eventuated away from this.

- Ned

{and yes ...}

Wed, 04/13/2011 - 18:55 | 1167066 Gold 36000
Gold 36000's picture

even the fed thinks monopolistic pricing is inefficient and anticompetitive.

The banks are free to add on extra fees in addition to the interchange fee if they wish. They are not free to collude and set minimum fees with Visa and Mastercard.

Wed, 04/13/2011 - 21:52 | 1167597 Ned Zeppelin
Ned Zeppelin's picture

You're entitled to your opinion. 

Wed, 04/13/2011 - 18:54 | 1167052 ZeroPower
ZeroPower's picture

Not gonna happen.

Good on Durbin though. Im assuming a bit less than Jamie's $20MM/yr.

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