Technology Stocks | ahhaha's ahs
DiMoan and co. didn't make bad trades. They tried to play their own hedges from the short side which in the past has had a small positive expected return, but found that the market has become too treacherous to pull off scalping execution at scale. In the last year the market has become so complex that it can't be understood at any level. DiMoan and co. didn't discover this until after the fact, AND, they still don't understand it.
What they need to do is GET OUT. That is, elect to practice Glass Steagall on their own.
The big bank that does this first will get most of the C&I loan market since none of the majors think that's the "smart" thing to do. Most of them want to whirl securities. Of course, they're hacks and amateurs, sophomores, who can't see the obvious. And of course, they can't because they're not bankers. They're casino paper shufflers.
Correction. Deluded statements. JPM hasn't gotten any "free" money, whatever you think you mean by this inane statement. If you will remember, DiMoan went along with DM + FED's foisting money onto the big banks. JPM didn't need it. They took it so that it would appear as though all the big banks were in the same soup. This was the plan cooked up by the towel head at C to obfuscate and to fend off a run on any of them.