Hillary Should Ask Jamie Dimon What Kind of Genius Loses $6.2 Billion

Yesterday, building on the momentum afforded her by a series of articles in the New York Times, Hillary Clinton asked the audience at a campaign stop in Toledo, Ohio: “What kind of genius loses a billion dollars in one year.” Clinton was referring to the New York Times revelation on Sunday that Donald Trump’s 1995 tax return showed a loss of $916 million. (See video clip below.)

If Hillary really wants to know what kind of genius can lose a billion dollars in one year or $6.2 billion in the case of traders at JPMorgan Chase, she should ask the bank’s CEO Jamie Dimon. The $6.2 billion London Whale loss at JPMorgan Chase is far more scintillating a feat since it involved wild derivative gambles in London in 2012 using the taxpayer-backstopped, insured savings deposits at the largest bank in the U.S. The U.S. Senate’s Permanent Subcommittee on Investigations conducted an in-depth investigation and report of the matter. The Chairman of the Subcommittee at the time, Senator Carl Levin, stated that JPMorgan “piled on risk, hid losses, disregarded risk limits, manipulated risk models, dodged oversight, and misinformed the public.”

In fact, New York City, where both Trump and the New York Times hail from, is filled to the brim with Wall Street geniuses who have wiped out hundreds of billions of dollars in shareholder equity or completely destroyed their Wall Street banks through unsound business models while reaping windfalls for themselves. Compared to these guys, Trump is a piker.

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While we are certainly no fan of Donald Trump, we have to ask ourselves two essential questions: (1) why is the Times creating a gag-worthy, revisionist history of the scandal-plagued career of Hillary Clinton and (2) why has the Times allowed its hometown’s largest industry, Wall Street, to become a criminal enterprise right under its coddling nose, leading to the unprecedented transfer of wealth from the 99 percent across America to the pockets of the super wealthy of New York City and its environs.

Wallstreetonparade.com

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You know, those are some damn good questions. Why is the media trying to rewrite Clinton's history? Why are they ignoring her lies?

There's no credibility to be gained by covering for her. nothing to be gained at all. I wonder why the Times, the Post, all those rags for that matter, can't see the connection between their hyper-partisan screeds and the loss of subscribers? Their job is to report facts, not print propaganda. I don't need some schmuck in a boardroom somewhere telling me how to vote. An endorsement from a newspaper might have meant something at one time, it doesn't anymore. The endorsement isn't based on honesty, it's all partisan politics all the time. These assholes like Bezos see themselves as 'king/queen' makers. That's NOT their job. Well, it's not supposed to be their job. Their job is supposed to be the 'news' and that is all.

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Alligator Ed's picture

While we are certainly no fan of Donald Trump, we have to ask ourselves two essential questions: (1) why is the Times creating a gag-worthy, revisionist history of the scandal-plagued career of Hillary Clinton and (2) why has the Times allowed its hometown’s largest industry, Wall Street, to become a criminal enterprise right under its coddling nose, leading to the unprecedented transfer of wealth from the 99 percent across America to the pockets of the super wealthy of New York City and its environs.

If Jamie Dimon's name or John Stumpf's name were actually listed as supporters of the Mad Bomber, instead of anonymous super-PACs, people might get a little upset that the same con men were actively promoting the 21st Century's biggest con woman. Why, we might even have the beloved Henry Killenger endorse her showing her bipartisan support--oh, wait, didn't that already happen?

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jwa13's picture

... the same kind that is awarded a $7.2M "cash incentive bonus", in addition to "base pay" of $12.6M the following year:

http://www.huffingtonpost.com/2015/01/22/jamie-dimon-bonus_n_6528342.html

No clawbacks reported, either. Nice work, if you can get it --

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When Cicero had finished speaking, the people said “How well he spoke”.
When Demosthenes had finished speaking, the people said “Let us march”.

Why the secretary of state, who doesn't know that "C" headers on emails mean classified.

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And who, as US Secretary of State, literally put US national security in the shitter and servered it up to paying guests, passing hackers and her own personal employees who were spying for her or whatever.

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Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.

A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.

Woodward and Bernstein ended the era of investigative journalism with their reporting on Nixon's crimes. Their success as investigative journalists added impetus to adopting the "remedies" suggested by Lewis Powell in his infamous memo, which among other things declared that controlling the media was vital to the dominance of corporate and economic interests.

Since much of that memo has been successfully accomplished, expecting the media to do its traditional job is a fool's errand. Only those on the fringe, such as Lee Camp as an example, continue to act as the eyes and ears of the public.

But too many people still care more about what a pudgy Kim Kardashian West is or is not wearing, about how well profligate liar Ryan Lochte dances with Cheryl Burke, and whether the residents of San Diego will let themselves get screwed by an NFL owner who doesn't like the small number of luxury boxes his current stadium has.

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Vowing To Oppose Everything Trump Attempts.

Amanda Matthews's picture

'against' Madame Medusa is now rooting for her to become our new 'boss'. I'll give for example Cenk Uygur (sp), another man without 1) either the courage of his convictions; or, 2) he didn't really have any in the first place, he's all show and no go.

I don't see how we're going to get out from under the thumbs of our corporate overlords but putting another damn Clinton in the White House sure isn't going to help.

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I'm tired of this back-slapping "Isn't humanity neat?" bullshit. We're a virus with shoes, okay? That's all we are. - Bill Hicks

Politics is the entertainment branch of industry. - Frank Zappa

Thanks for another great post, (and comment) Amanda!

Was wondering, though if any of the OP was quoted from somewhere, as it rather appears, going by your ending paragraph, to have been? If so, or even if not, a link to the/any article(s) providing information used would be super for those of us looking for more on this. Unless I've missed one/some links - got no sleep at all again last night and am having trouble seeing through my eyelids, lol. (Just hate to miss any interesting threads when they sometimes vanish so rapidly.)

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Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.

A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.

Amanda Matthews's picture

THERE! Why is it not showing up? This happened during the night too.

Anyway, the link is wallstreetonparade.com

It goes right to the story. Now I guess I should go and trying AGAIN to make a link show up.

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I'm tired of this back-slapping "Isn't humanity neat?" bullshit. We're a virus with shoes, okay? That's all we are. - Bill Hicks

Politics is the entertainment branch of industry. - Frank Zappa

Amanda Matthews's picture

error. And it was really dumb too. So I'm not telling what it was.

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I'm tired of this back-slapping "Isn't humanity neat?" bullshit. We're a virus with shoes, okay? That's all we are. - Bill Hicks

Politics is the entertainment branch of industry. - Frank Zappa

edg's picture

The answer to why the New York Times and Washington Post are pushing Hillary Clinton like their lives depended on it, is that they know Hillary will carry out Israel's long-range plan to make every other country in the Middle East so weak that Israel can do whatever it wants to Palestinians and to the region as a whole.

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At least until after the election, I am blocking, unfollowing all of them including TYT. I am not going to be lectured or waste my time listening to the propaganda. Might as well listen to nails on a blackboard.

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"Religion is what keeps the poor from murdering the rich."--Napoleon

riverlover's picture

Fits the MO of the NYT now as well.

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Hey! my dear friends or soon-to-be's, JtC could use the donations to keep this site functioning for those of us who can still see the life preserver or flotsam in the water.