The Fortress Balance Sheet

Jamie Dimon at JPMorgan tells us he has a “fortress balance sheet”. This after he announced a $2 billion loss that the street says is $4 billion. He dumped three of his most favored executives to make his point. My guess? Each left with a hundred million dollar gift to make life a bit less tedious and each will head up a new fraud that will later be spun into JPMorgan. Not a bad exit for a trio good at fleecing pensioners.

But here’s the clincher. Fortress “balance sheet”? All balance sheets went the way of the Dodo bird when the Goldman team brought us the “Off Balance Sheet” entry. JP Morgan didn’t drop $2 billion or $4 billion. It’s in the hole by trillions and so far it’s shown its shareholder victims a paltry $2 billion of the total stolen mess.

Balance Sheet? JPMorgan should have a Rap Sheet. The only reason the whole crew is not behind bars is because JPM now owns the White House, the U.S. Judiciary and all the jails. And Jamie is there to assure his JPM clients that the loss doesn’t affect them. He didn’t mention the shareholders who are now being crucified. Their journey into hell is just beginning. I guess he assumes they’re not clients.

We are glad to be old and we deliberately have no assets to attract the scumbags from JPMorgan.