JP Morgan Chase hit by $2 billion derivatives loss
The crisis in JP Morgan Chase demonstrates the rubber-stamp character of the ongoing regulatory efforts by the Federal Reserve and the Obama administration. Only two months ago, the Federal Reserve completed a “stress test” of the 19 largest US banks, which gave all of them a green light in terms of solvency, and approved increased dividends or stock buybacks for 15 of the 19 banks.
JP Morgan Chase then declared a dividend of 30 cents per share, up from 25 cents last year, and announced a $15 billion stock buyback, driving up its share price by 7 percent in a single day.
The total payout to bank shareholders and investors, based on the announcements from all 15 banks, comes to $32 billion over the next year.
THE BIDEN INVASION - Health inspections for foreign nationals entering our country illegally have gone out the window. That's enabled the importation of many diseases which affect livestock and other agricultural output, and already these things are happening. Legal immigrants and even returning U.S. citizens must pass these inspections to protect the U.S. food supply. But under Joe Biden's catch-and-release, illegals are exempt from such cumbersome requirements. MONICA SHOWALTER
Saturday, May 12, 2012
JP Morgan Chase hit by $2 billion derivatives loss - IT PAYS TO BE ONE OF OBAMA'S CRIMINAL BANKSTER DONORS!
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