That as it travels through the galaxy it manages to suck towards its center, all the nearby available mass until, growing and growing, it finally manages attractions of such force that not even bid-ask spreads can escape it. It is… too big to fail and you will see more of it, once a few of them fail and get acquired.
J.P. Morgan Chase & Co. Chief Executive Jamie Dimon on Monday said he expects America’s biggest banks will continue to gain market share, and that the financial industry is ripe for more consolidation.
Mr. Dimon, speaking on a conference call with investors and analysts, said the financial crisis will continue to restructure the banking industry for some time. He expects more deals will be done, and doesn’t rule out an acquisition for his own company that will add more branches.
He expects deals might pick up once major U.S. players receive results of the government’s stress tests this week. The nation’s 19 biggest financial companies are expected to receive their results late Wednesday.
J.P. Morgan’s Dimon Expects Bank Consolidation to Accelerate [The Wall Street Journal]
His sexual prowess with boys of a certain age?
@1- think you meant to leave that on the fortress post
http://zerohedge.blogspot.com/2009/05/cliff-asness-i-am-ready-for-my.html fascinating read.
So we are going to have big, muscular, hulking, sweaty, brawny, tanned banks? But will they be vibrant and alive? Or will they be so muscle bound that even the thinnest model will walk away in disgust?
@3 A$ne$$ is a tool. Why would I want to read his incoherent rambling?
Hedge fund leaders should be seen and not heard these days.
It’s like Jean Lafitte bitching when the US shut down his “privateeering” efforts after 1814.
“The game is over Mr. Asness….the hedge funds lost!!”
Jamie Dimon rocks. Read his annual letter. The Sage-o-O mentioned it today, but seriously, it makes for very interesting reading.
assness is a complete lunatic, and not respected by his “peers” in the hf community (or by his investors or employees for that matter).
Jamie Dimon is a Grand Wizard Level 5 at NAMBLA.
Bess/EP, anyway to clean up the NAMBLA stuff on the site?
@10- who the fuck cares? is it hurting you?
#5 – While I agree with your opinion of Cliffy, his rant is actually dead-on. It’s worth the read.
@10 – Painful childhood memories?
I don’t get it.
@12 Cliffy, is that you?
I wouldn’t bo too suprised if it is considering this sort of thing is par for the course for you and certain members of your wonderful staff.
North American Marlin Brando Look Alike Association-dumb ass that is why is did not need to be censored.
@3 Hardly fascinating, rather more sob stories about the big bad gov.
Senior secured credit is not the usual playground for HF’s. What was the investment thesis? Ch 7 liquidation? Who’s biding for auto factories?
More likely, ARQ was looking for a little bailout themselves. Maybe a little common-equity pump, guarantees attached to their debt, or be taken out at par through a forced purchase by GM?
I wonder if his investors are impressed enough by his outrage to not withdraw their cash?
self serving clown will end up like Sandy Weil…he should retire while he can…