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Guest Post: On Jamie

Tyler Durden's picture




 

Submitted by John Aziz of Azizonomics blog,

Warren Buffett wants to give Jamie Dimon a job:

On the Charlie Rose show [last month], Buffett was asked what kind of message it would send if President Obama picked Jamie Dimon or another Wall Street banker to succeed Timothy Geithner, who has expressed a desire to leave the post after Obama’s first term.

 

“I think he’d be terrific,” said Buffett, chairman of Berkshire Hathaway, about Dimon. “If we did run into problems in markets, I think he’d actually be the best person you could have in the job.”

 

Buffett added that Dimon would have the confidence of world leaders if he were appointed to the Treasury post.

Warren Buffett is one of America’s biggest bailout beneficiaries, having profited hugely from buying into firms whose assets were subsequently bailed out. Shortly after the crisis began in 2008, Warren Buffett loaned money to, and bought options from, Goldman Sachs, seemingly with the knowledge the bailout of AIG — a counterparty to which Goldman had massive, massive exposure — would take place.

Dimon as Treasury Secretary would intend more of the same. Dimon and Buffett and others like them believe in having their cake and eating it. They seem to believe that the U.S. taxpayer should provide a liquidity lifeline to their fragile and risky too-big-to-fail businesses, but without at the same time demanding any regulatory oversight to prevent too-big-to-fail banks from acting irresponsibly.

The Financial Times noted in 2011:

Jamie Dimon, chief executive of JPMorgan Chase, launched a broadside against financial regulation on Wednesday, warning that new capital rules could be “the nail in our coffin for big American banks”.

 

Regulators are negotiating international capital standards for the biggest banks but Mr Dimon said setting the new requirements too high, or allowing overseas banks to calculate their asset base differently, could disadvantage US banks and was already stifling economic growth.

 

If you want to set it so high that no big bank ever goes bankrupt … I think that would greatly diminish growth,” he told a US Chamber of Commerce conference. Too large a disparity in capital requirements between Europe and the US would mean “you’re pretty much putting the nail in our coffin for big American banks,” he said.

What this really amounts to is a lack of skin in the game. Big banks can gamble and speculate without remorse and without risk — if they win they keep the proceeds, and if they lose the taxpayer will pick up the pieces. This destroys the market mechanism, and any hope of self-regulation. Were lessons learned from 2008? If the antics of Corzine, Kweku Adoboli and the London Whale — just three big financial blowups in the last year — are any guide, big finance is acting just as irresponsibly and self-destructively as before the crisis.

Buffett and Dimon surely have in mind more cronyism, bailouts and free lunches, but the reality of the next four years and beyond may be very different indeed.

While it is impossible to predict exactly when the next crisis will emerge, the current slump in capital goods orders, the intractable debt overhangand the general trend of ditching the dollar as a reserve currency do not look good. As one of the architects (both practically and ideologically) of the current mess, Dimon as Treasury Secretary would at least get all the blowback and blame when the bubblecovery finally implodes into a currency or supply chain crisis that cannot be bailed out through liquidity injections.

JamieCoyote

 

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Tue, 12/11/2012 - 11:09 | 3051782 Alcoholic Nativ...
Alcoholic Native American's picture

Yea and he bailed out the local propaganda papers around here.  The man is a total POS welfare queen.  Him and his son.

Tue, 12/11/2012 - 11:19 | 3051814 helping_friendl...
helping_friendly_book's picture

He bought our local paper also. I'm so sick of his kind. Hank Paulson told all the banks exactly what was going to hapeen so they could front run while keeping Congress (the people) in the dark until his three page memo to Congress saying sign or the world will end tomorrow.

When they attack Manhatten again I won't shed a tear.

Tue, 12/11/2012 - 12:27 | 3052080 asteroids
asteroids's picture

True, but the population keeps on electing men of weak intellect and non-existant moral character. You get what you pay for.

Tue, 12/11/2012 - 12:54 | 3052179 Abrick
Abrick's picture

I think their compensation would point to the inverse of getting what you pay for.

Tue, 12/11/2012 - 17:34 | 3053219 helping_friendl...
helping_friendly_book's picture

I wouldn't use the term electing!

Rigging DieBold machines with the choice of a few Jews at the Bilderburger meeting ain't exactly an election.

Then putting Karl Rove on to blow a gasket and make the whole operation seem so real....Classic.

They did pay for those TV commercials though. That was a media mini stimulus package.

Tue, 12/11/2012 - 11:22 | 3051823 Stoploss
Stoploss's picture

Oh let me guess, every body is going to work for "the bank" or "the government".

Sweet, it's working out great in Europe.

Tue, 12/11/2012 - 11:26 | 3051838 Intelligence_In...
Intelligence_Insulter's picture

The government does not create jobs.  Free market capitalism is the best path to prosperity.

Tue, 12/11/2012 - 11:37 | 3051855 LawsofPhysics
LawsofPhysics's picture

That would require letting bad business models, bad ideas, and bad management fail.  Can't have that, remember, "everybody is a winner".

< sarc off >

Tue, 12/11/2012 - 12:05 | 3051986 redpill
redpill's picture

Just when you thought government and large banks couldn't be any more closely related, they (don't) surprise you by suggesting an entirely new level of crony incest.

Tue, 12/11/2012 - 12:13 | 3052013 JPM Hater001
JPM Hater001's picture

I'm really rooting for the guy.

I think Government Oligarchy will win the, "Most likely to disappear in an aweful way" category.

Janies Got a gun.... http://youtu.be/RqQn2ADZE1A

 

Tue, 12/11/2012 - 11:34 | 3051860 fly
fly's picture

Kudlow?

Tue, 12/11/2012 - 11:44 | 3051898 Stoploss
Stoploss's picture

Obozo, Ben, and Timmy disagree with you.

I do not.

Tue, 12/11/2012 - 11:43 | 3051892 whatsinaname
whatsinaname's picture

The newspaper publishing may end but he gets to pocket the associated real estate properties for pennies. I think he is doing very well on those newspaper deals.

Tue, 12/11/2012 - 16:34 | 3052927 helping_friendl...
helping_friendly_book's picture

He bought our local paper also. I'm so sick of his kind. Hank Paulson told all the banks exactly what was going to hapeen so they could front run while keeping Congress (the people) in the dark until his three page memo to Congress saying sign or the world will end tomorrow.

When they attack Manhatten again I won't shed a tear.

Tue, 12/11/2012 - 11:11 | 3051787 LawsofPhysics
LawsofPhysics's picture

Getting someone else to pay and suffer for your private  mistakes and failures is what fascism is all about.  Come on sheeple, wake the fuck up, these guys are pros.  The socialization of private losses and capital mal-investment and mis-allocation continues...

 

On top of that, banks all over the earth seem to be very much still using "mark to fantasy" accounting.  Too bad the sheeple can't.

Same as it ever was.

Tue, 12/11/2012 - 12:17 | 3052015 LMAOLORI
LMAOLORI's picture

 

 

On that note

 

How the Government Is Coming After Your IRA and 401(k) Plan

http://www.economicpolicyjournal.com/2012/12/how-government-is-coming-after-your-ira.html

 

 

Jamie Dimon is O's favorite banker he loves him some Jamie they go way back to Chi Town on the bailed out buffoon his firms got $95 Billion in bail out money and the big joke is Obama doesn't want to close tax loopholes so when they raise taxes it won't even affect buffet. It will however affect the middle class so once again O's wealthy friends escape both from taxes and from criminal prosecution.

Obama On Tax Cuts: President Rejects Republican Plan To Close Loopholes

http://www.huffingtonpost.com/2012/11/14/obama-tax-cuts_n_2131256.html

John Boehner: Raise Taxes on the Rich

snip

 

“Now there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy,” said Boehner.

“Listen, our members believe strongly that raising tax rates will hurt the economy,” said Boehner. “Closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising rates, because raising rates will hurt the very people that we're expecting to help create jobs in our country.”

 

http://cnsnews.com/news/article/john-boehner-raise-taxes-rich

Tax Payers With Income of Only $30,000 Face Annual Tax Hikes of $1,500

http://www.economicpolicyjournal.com/2012/12/tax-payers-with-income-of-only-30000.html

Middle Class--Not the Rich or the Poor--Pay Majority of Federal Taxes, Says CBO Data

http://cnsnews.com/node/68094

 

How Buffett Saves Billions On His Tax Return

Warren Buffett Is A Punk

 

snip

Meanwhile, Buffett has given each of his kids a charitable foundation with billions each to manage. If a foundation has $3bb in it, then something like $90mm can go to salaries.

http://techcrunch.com/2012/05/12/warren-buffett-is-a-punk/

 

 

 

 

 

Tue, 12/11/2012 - 15:26 | 3052565 Blankenstein
Blankenstein's picture

The oligarchs' conference is tomorrow starring some of the most hated kleptocrats in America.  A handful of fluffers (Krugman, Sorkin, etc.) are thrown in to round out the day. 

 

http://nytdealbookconference.com/index.php

Tue, 12/11/2012 - 15:55 | 3052819 Sparkey
Sparkey's picture

Getting someone else to pay and suffer for your private  mistakes and failures is what fascism,  `intelligence`, is all about.

These folks are Capitalists, they `Own` things, the biggest and most lucerative business they own is their umbrella organization, the United States of America, if you had a business and you needed some money where would you go to get it? Naturally you would take it from your business, Why shouldn't Warren and Hank and the others take the money when they need it, if they did not in fact own it they couldn't take it could they?

Tue, 12/11/2012 - 11:10 | 3051788 virgilcaine
virgilcaine's picture

How about the MSM silence on the fiscal cliff? shhh  they must be working on it diligently and in a bipartisan fashion..

Tue, 12/11/2012 - 11:14 | 3051800 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

"Buffett and others like them believe in having their cake and eating it."

 

God almighty don't forget the "ice cream" too!  Buffett's companies only received $90,000,000,000.00 in TARP money.  It is called free enterprise!  Is Buffett a genius!?  Of course, he is a genius at working the system!

Tuco

Tue, 12/11/2012 - 11:20 | 3051815 ElvisDog
ElvisDog's picture

Too bad the old fucker is going to die like the rest of us. What's he got, maybe 5 years? All those billions won't solve that little dilemma.

Tue, 12/11/2012 - 11:22 | 3051827 sdmjake
sdmjake's picture

On a long enough timeline the survival rate....

Tue, 12/11/2012 - 11:32 | 3051853 Joe Davola
Joe Davola's picture

Although I'm no Jobs fanboi, but why did pancreatic cancer pick him over the old slobknobber.

Tue, 12/11/2012 - 14:34 | 3052539 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

at least Jobs I can see as an inventor with an artistic vision, however it too had/has a draw back. I recommend the documentary below. Buffet more tick like.

http://undergrounddocumentaries.com/resonance-beings-of-frequency-full-v...

Tue, 12/11/2012 - 11:56 | 3051948 GCT
GCT's picture

Tuco, you forgot to mention the killed pipeline in the USA because Buffett's trainline carries all the petro goods from Canada.  They are fucking assholes that want higher taxes, but do not whip out the checkbook and cut the USA a check.  They spend millions avoiding the taxes. Yes he can pay me what he pays his assistant, last time I checked it was 400k a year.

And the sheeple listen to this smuck.  

Tue, 12/11/2012 - 15:01 | 3052620 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Good Point GCT!

Tuco

Tue, 12/11/2012 - 11:15 | 3051803 Jason T
Jason T's picture

ravine.. we fell of the cliff in 2008 .. we're deep in the ravine.  

Tue, 12/11/2012 - 11:15 | 3051804 astoriajoe
astoriajoe's picture

what do you mean silence?

Tue, 12/11/2012 - 11:19 | 3051816 ElvisDog
ElvisDog's picture

No kidding. The stupid fiscal cliff coverage seems to be 24/7 on the MSM.

Tue, 12/11/2012 - 11:12 | 3051791 Joe Davola
Joe Davola's picture

you’re pretty much putting the nail in our coffin for big American banks

 

And what's the downside?

Tue, 12/11/2012 - 11:23 | 3051829 SheepDog-One
SheepDog-One's picture

DIE fuckers DIE!!

Tue, 12/11/2012 - 11:11 | 3051793 LongSoupLine
LongSoupLine's picture

My fucking head just exploded...

Tue, 12/11/2012 - 11:12 | 3051794 1100-TACTICAL-12
1100-TACTICAL-12's picture

to  the gallows ...

Tue, 12/11/2012 - 11:13 | 3051795 Miss Expectations
Miss Expectations's picture

Tell me... why Jamie would want to be Treasury Secretary?

Tue, 12/11/2012 - 11:20 | 3051809 BlueCollaredOne
BlueCollaredOne's picture

He would simply be completing the circle, just backwardly.

Usually you work for big gov and spend the time using your influence to insure a nice private sector position when you enter the private world, Jamie's doing it the other way around.

Does it make sense?  Of course not, Does anything make sense nowadays?  NOPE.

Maybe for the tax benefit a la Paulson?  Maybe to make sure his ass stays out of jail?

Tue, 12/11/2012 - 11:12 | 3051796 williambanzai7
williambanzai7's picture

JAMIE THE DOUCHE

Tue, 12/11/2012 - 12:21 | 3052051 Aziz
Aziz's picture

Perfect.

Tue, 12/11/2012 - 12:32 | 3052096 CoolBeans
CoolBeans's picture

+1,000,000

Priceless.  This should be my new screensaver.  I hate that bastard.  I can't believe he kisses his children with that mouth.

Tue, 12/11/2012 - 11:12 | 3051797 BlueCollaredOne
BlueCollaredOne's picture

Dimon as treasury secretary is akin to the Daniel Snyder (owner of the Washington Redskins) taking a job as a NFC referee.  

Conflict of interest? Nahhhhh, just keep eating your GMO's sheep.

Tue, 12/11/2012 - 11:14 | 3051801 khakuda
khakuda's picture

The worst with Buffett is that he never speaks up when he disagrees with the powers that be.  When asked if he though QE made sense, he finally responded no, but they practically had to beat it out of him and then he couched it by saying Bernanke knew more about that monetary stuff than he did.  Also, he let Obama redefine the Buffett plan to include everyone making over $200,000 per year instead of the minimum 30% tax rate on people over $1 million in income which he suggested.  Just sat there and let Obama change what he said and put his stamp on it.  Unbelieveble lack of integrity.  Total shill.

Tue, 12/11/2012 - 11:15 | 3051805 FMR Bankster
FMR Bankster's picture

I agree with your basic point about the bailouts. However, I'd just point out that Buffetts Goldman investment hasn't exactly been a huge winner. He did earn 10% on the pref stock for about 27 months (when it was paid off early at a 10% premium)but the warrents expire in less than a year and they are still out of the money. Considering the risk of investing then this seems like a high risk (helped by inside info) low return investment.

Tue, 12/11/2012 - 11:17 | 3051808 Dre4dwolf
Dre4dwolf's picture

Well I have one thing to say.

Can't be worst than the clown running it now.

 

Tue, 12/11/2012 - 11:21 | 3051820 sdmjake
sdmjake's picture

i dunno...was taught not to put the 'Fox in charge of the henhouse'.

Tue, 12/11/2012 - 11:22 | 3051813 Zap Powerz
Zap Powerz's picture

So, more food stamps then?

We are a food stamp nation.  A nation full of humans that are incapable doing what is necessary to provide their own sustenance.  Think about that.  Millions of human beings that have been trained/bred to not survive on their own.

All so pricks like Jamie Dimon and Barack Obama can get rich and have power.  Power and wealth created by the misery and failure of other people.

We live in such a fucked up country now that approx 98% (minus the approx 2% that didnt vote for a D or and R) of the population votes for people that hate them, use them and destroy them and their families.

http://www.youtube.com/watch?v=NjUPb4Z2M_o

Tue, 12/11/2012 - 11:19 | 3051817 fuu
fuu's picture

Hey at least he's not a Goldmanite!

Tue, 12/11/2012 - 11:20 | 3051818 orangedrinkandchips
orangedrinkandchips's picture

Libya, Egypt, Iran (circa 1953-1980).....HERE WE COME.....LET'S JUST GO BACK TO ONE KING SO WE CAN ALL MOVE ON....slow death sucks

Tue, 12/11/2012 - 11:22 | 3051822 centerline
centerline's picture

These guys are smart.  No doubt.  But they are more connected that anything else.  It is about riskless business.  This is how they make a killing.  They can influence the game.  They can obtain information that other people can't get.  They can even get the laws written to make such actions legal... and hire armies of top notch lawyers to punch holes in everything else.  Etc. and so on.

Tue, 12/11/2012 - 11:26 | 3051837 Zap Powerz
Zap Powerz's picture

And, here is the hilarious part, they call themselves "capitalists"!!

 

Tue, 12/11/2012 - 11:28 | 3051825 The Count
The Count's picture

On another note....HSBC hat gotten a record fine for money laundering. BUT...where are the indictments? Why has their banking license not been revoked? How come has Lord Green who presided over HSBC during the time in question been since promoted to a minister position with the british government? 

In case you don't know...The royals still control the UK through the Bank of England and connected banks. The two party system is a sham. Just like here in the USA. And the persistent rumors that the royal family is involed in many very unsavory dealings has been proven by the HSBC scandal. Yet we are continuously made to believe how 'quaint and sweet' the queen and all the other bloodsuckers are. Kate and Andrew...get the fuck outta here.

Tue, 12/11/2012 - 11:36 | 3051868 jayman21
jayman21's picture

And that other story was really a suicide?  Yea right.

Tue, 12/11/2012 - 11:25 | 3051834 RobotTrader
RobotTrader's picture

HSBC skying to 52-week highs, JPM at 6 month highs, gold getting bludgeoned again.

Now we know who is in charge.

Tue, 12/11/2012 - 11:27 | 3051839 oddjob
oddjob's picture

Any reco's on Netflix?

Tue, 12/11/2012 - 11:31 | 3051850 Intelligence_In...
Intelligence_Insulter's picture

King dollar bitches.  Never bet against America.

Tue, 12/11/2012 - 11:37 | 3051867 Orly
Orly's picture

You got it...

Tue, 12/11/2012 - 12:06 | 3051990 Bay of Pigs
Bay of Pigs's picture

The DXY is down today. Hovering around 80. Showing no strength since July.

Some of you guys have no fucking shame spewing bullshit.  

Tue, 12/11/2012 - 12:16 | 3052029 Orly
Orly's picture

The DXY is down today because they're going to ramp the Euro/$ back over $1.30 when Speaker Boehner talks at noon Eastern.

The interesting thing about today is that risk assets such as equities are up, the Euro is up but gold is down.  There may be a decoupling in the works here, which does not bode well for US equities or especially for the EuroYen and EuroDollar crosses.

The smart money will close their gold positions before the dumb money closes their long equity positions and I suppose Wednesday will be the tell when Dr. Bernanke announces QE4-lite.  Twenty bills instead of the expected forty.  Something tells me equities are going to have a hangover that day.

:D

Tue, 12/11/2012 - 12:38 | 3052097 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Any talk about another round of QE has to do with what was OT2.  QE3 will remain in place.

The Fed will be buying at least $40B/mo of MBS, that is not in question.  The question is how will the Fed make up for OT2?

They are likely to buy $45B of USTs outright instead of selling their short duration holdings, but if you say $20B so be it, that is still $20B out of no where to buy into the world's largest bond market (which the Fed in all of its incestuous glory has the largest holding of). 

Also remember how finance works - there are many tricks to enlarging their assets.  They could fractionally reserve some loans, they could rehypothecate some collateral, etc.  They will do what it takes to keep the ponzi alive.

And if you don't want to call it a ponzi what do you call Central Banks located in the Nation-States of where they buy most of the Treasury debt from while issuing currency that the tax payers from said Nation-States pay to buy?

Tue, 12/11/2012 - 13:10 | 3052221 Bay of Pigs
Bay of Pigs's picture

Hogwash. The DXY is down from 120 to 80 over the last 12 years. In that time gold has risen from $248 to $1900 ($1700+ presently).

Year to date the DXY is down -.08% and up YOY +1.88%. Gold is flat YOY but looking to rise for the 13th year in a row (ended 2011 at $1574). 

DXY is unchanged from the fall of 2008, when gold was $700.

And QEternity isnt going to stop Orly. That's not dollar positive. You're wrong on the FED and gold by a country mile. 

 

 

Tue, 12/11/2012 - 12:14 | 3052014 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Orly, watching your trades flop around like fish out of water is entertaining enough, you don't have to go full retard and agree with robotrader.

Tue, 12/11/2012 - 12:19 | 3052038 Orly
Orly's picture

I don't necessarily agree with RobotTrader.  All I am saying is that he can have his say, too.  It's nice to have a dissenting voice from time to time.

:D

Tue, 12/11/2012 - 12:30 | 3052085 oddjob
oddjob's picture

I guess riding Netflix from 310 to 50 then disappearing is a form of dissent.

Tue, 12/11/2012 - 12:33 | 3052099 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Yeah, Robo is basically like the Tibeten Monk of Zero Hedge.

Tue, 12/11/2012 - 11:39 | 3051879 fonzannoon
fonzannoon's picture

That's right. Never bet against your owners.

Tue, 12/11/2012 - 11:33 | 3051859 Orly
Orly's picture

Thought you fell off the planet...

Tue, 12/11/2012 - 13:33 | 3052053 fuu
fuu's picture

$8 moves, the new bludgeoned.

What's Ras going to do without his fluffer?

Tue, 12/11/2012 - 12:29 | 3052084 CoolBeans
CoolBeans's picture

HSBC officers in charge of money laundering = fine.

You & me?  If we did the same, we wouldn't see our families again for decades.

Yeah, they rule and are held to no rule.

Tue, 12/11/2012 - 11:26 | 3051840 apberusdisvet
apberusdisvet's picture

The picture in my mind comes from the typical old west movie.  The gallows have been built in the town square; the populace gathers.  3 criminals are led from the jail and marched up the platform to meet their fate.  Any last words before you meet your maker, growls the hooded executioner?  The first criminal says "I will always defend that we held gold only out of tradition; it has no real value".  Whoosh goes the trap door.  The second proclaims "A man of my import should be exempted from paying income taxes and, after all, my father had a close personal relationship with the mother of the President".  Whoosh, and a big cheer from the crowd.  The third criminal thinks for a moment and says "when I die, Blythe's algos will destroy the world, suckers".  Whoosh.

Tue, 12/11/2012 - 11:40 | 3051884 Miss Expectations
Miss Expectations's picture

The fourth criminal asks, "So, what are the chances that this trap door won't work four times in a row?"

 "No risk of that."  Whoosh

Tue, 12/11/2012 - 11:28 | 3051843 buzzsaw99
buzzsaw99's picture

just die

Tue, 12/11/2012 - 11:29 | 3051844 virgilcaine
virgilcaine's picture

Tsy Sec?  So it can appear he's doing "public service".. you know getting the Country back on track.

Tue, 12/11/2012 - 11:37 | 3051869 honestann
honestann's picture

Lynch them all.

Tue, 12/11/2012 - 12:35 | 3052109 resurger
resurger's picture

all of them

Tue, 12/11/2012 - 11:41 | 3051887 km4
km4's picture

Already covered by Yves Smith quite well !

The 0.1% Circles the Wagons: Buffett Pumps for Dimon as Treasury Secretary
http://www.nakedcapitalism.com/2012/11/the-0-1-circles-the-wagons-buffett-pumps-for-dimon-as-treasury-secretary.html#5DBeEwhjt7f6HzfA.99 

the real reason for Buffett’s enthusiasm is really simple. Dimon is the loudest mouthpiece of the utterly shameless banking industry bullshit.

Tue, 12/11/2012 - 11:43 | 3051893 virgilcaine
virgilcaine's picture

It appears He has to make it past the gallows first... he he.

Tue, 12/11/2012 - 11:51 | 3051926 WhiteNight123129
WhiteNight123129's picture

Guys when Buffet is bankrupt spend a bit of your Gold and uncork a bottle of Champagne.

 

Tue, 12/11/2012 - 12:22 | 3052056 Aziz
Aziz's picture

Can't wait.

Tue, 12/11/2012 - 12:13 | 3052004 Darth Mul
Darth Mul's picture

From July - in case you missed it.

 

The Scariest Thing Jamie Dimon Told the Senate Panel

 

What on earth qualifies this man to be US Treasurer?

 

I still hold that the Federal Reserve Act was and is unconstitutional on its face, and wish there were some effort to relitigate it.  Otherwise, and ultimately, violence is virtualy guaranteed when the dollar's purchasing power declines below some threshold and/or food and gas prices skyrocket when we invade Iran in an ironic attempt to prop up the dollar {and clear a path for gaspipelines we control, and for Israeli expansion into Sinai, Lebanon and beyond}.

 

Richard Perle and Dick Cheney are comfortable and well-fed.   How much justice do you think there is?

Tue, 12/11/2012 - 12:23 | 3052061 CoolBeans
CoolBeans's picture

What on earth qualifies this man to be US Treasurer?

He qualifies because he is part of the NWO corruption team.  

Tue, 12/11/2012 - 12:21 | 3052050 CoolBeans
CoolBeans's picture

I have this recurring fantasy that Dimon meets his demise in a zombie apocolypse.  Hopefully those zombies don't get ill feasting on Dimon's corrupt brain before they get to Bernacke.

Tue, 12/11/2012 - 12:32 | 3052093 4exNinja
4exNinja's picture

They should import one of the guys from Icleand...someone who's willing to tell the banks to go fuck themselves and that we aren't willing to have our kids pay for their mistakes!!

Tue, 12/11/2012 - 12:46 | 3052150 Clowns on Acid
Clowns on Acid's picture

Why worry ? Treasury has just anounced that AIG will result in a profit of $15B for "US taxpayers". No details supplied of course.

These guys really know how to invest.......

Tue, 12/11/2012 - 13:59 | 3052395 whotookmyalias
whotookmyalias's picture

Hey it's a picture of me!

Tue, 12/11/2012 - 14:19 | 3052473 MagicMoney
MagicMoney's picture

Warren Buffett is a good man. He wants to raise his own taxes so the economy can get better.

Tue, 12/11/2012 - 14:49 | 3052585 Dineroguru
Dineroguru's picture

If this crooked bastard become treasury secretary I will become completely radicalized!  How about his $12MM bonus that was never clawed back despite the surfacing of the London Whale less than a month after he signed off on the books being clear?  MF Global fiasco? The King of Derivatives in the house of the Treasury?....please say it just a horrible dream!

Tue, 12/11/2012 - 16:42 | 3052971 helping_friendl...
helping_friendly_book's picture

I am afraid to buy a gun. I'll use it. Never in my , almost, 50 years would I have imagined the American so idiotic as to just buy this garbage hook line and sinker.

At least the Greeks put up a struggle! Even the french make us look bad for Christ sakes.

 

Tue, 12/11/2012 - 15:29 | 3052701 Conax
Conax's picture

Dimon will make a fine treasury secretary- since 1913 they have all been scumbags.

Rubin, Paulson, Summers, now T T Timmy.. he'll fit right in.

Tue, 12/11/2012 - 15:44 | 3052772 loveyajimbo
loveyajimbo's picture

The Obunga administration is so full of corrupt pieces of dogshit, that Dimon would fit right in.  the deep, deep malfesance of Holder, Clinton, Rice, Geithner and even good old Panetta is historic in nature... this could not be a mere coincidence... it must be intentional...  Shall we all pray for an impeachment?

Wed, 12/12/2012 - 00:55 | 3054772 Lord Of Finance
Lord Of Finance's picture

Buffets bullshit is classic do-gooderism. 'Do as I say, but not as I do. The rules don't apply to me, they only apply to you. He is an old asshole. He is an idiot-savant as well. He's a genious at picking the right companies to get behind, but a fucking moron when it comes to understanding that the fundimentals of our economy are in quicksand.

Big time heavywieghts like buffet are no strangers to cozying up to politicians. Could you imagine if Herbert Hoover, who was visited by Rockefeller all the time, said we need to impose a "Rockerfeller rule." I am sure it would have gone by with little protest.

 

FUCK YOU WARREN BUFFET! STAY THE FUCK OUT OF THE WHITE HOUSE!

AND OF COURSE:

                      FUCK YOU BERNANKE!!

Wed, 12/12/2012 - 23:00 | 3058241 MeelionDollerBogus
MeelionDollerBogus's picture

What? The game is rigged?

INCONCEIVABLE!

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