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Even Sewage Will Get You In Trouble These Days

Back when rates looked cheap, it became habit to sell financing and swaps and the like to municipalities (perhaps not the brightest municipalities) for infrastructure projects. Now that the terms of the related debt are blowing up badly, states like...

What Does Jamie Know That You Don't?

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......

Letter To Shareholders: Last Edits

To LB from JD: Here's my notes from our late night edit session. I've got to send this to the printer posthaste. Let me know what you think or if I missed anything. Let's face it. 2008 blew. In the...

Personally, We Are Outraged That Recipients Of Public Money Would Be Unwittingly Supplying Nuclear Material To Iran, Aren't You?

By using aliases, LIMMT fooled U.S. banks into processing dozens of illegal transactions, Morgenthau said. "Our banks have high standards and sophisticated systems to stop these transactions, but this conduct was specifically designed to defeat their systems," he said. Some...

Presented Without Comment: J to the D-I-M-O-N

MARIA BARTIROMO: JAMIE, THANKS FOR JOINING US. JAMIE DIMON: MY PLEASURE. BARTIROMO: CAN YOU CHARACTERIZE WHERE WE ARE RIGHT NOW IN THIS ECONOMIC SLOWDOWN, IN THIS TIGHT CREDIT ENVIRONMENT? DIMON: YOU KNOW, MARIA, I THINK IT'S ALMOST IMPOSSIBLE TO DO...

Why Open?

According to our vibrant tip-line: [JP Morgan] open-sourced the CDS analytics engine because no one remembers which precise version of the "binaries" (compield source) code was originally handed over to Bloomberg to fuel the CDSW page. Seriously. Earlier: Open Source...

Open Source CDS Analytics?

The big JD leaves town for a few days to pontificate and ski and the office just melts down and starts giving away critical intellectual capital. Boy is he going to be mad when he gets back. In this particular...

Stop Me If You've Heard This One Before

JP Morgan has "plenty of capital," thank you very much. And if you people don't stop talking about this nationalization thing, you are going to fuck the whole thing up for us. Someone should just rewrite Basel II, make a...

We Don't Know, Is It?

From an inquisitive reader: "Is it really true that at the JPM Life Sciences conf in San Fran they gave out a mug with instructions that feel free to use the water cooler but no drinks or snacks or cocktail...

Latest Member Of The Stadium Name Curse Club

The WaMu name on the 5,000-seat theater at Madison Square Garden is likely to change because of the seizure of Washington Mutual by federal regulators on Thursday. The nation's largest savings and loan -- which came to symbolize the excesses...

"Feel the Whoo hoo!TM"

That didn't take very long. Almost as fast as Barclehs got their logo on the digital Lehman walls. Seriously, what the fuck is feeling the "Whoo hoo!"TM supposed to mean? And who the hell puts that right above a sympathetic...

Let's Do The Time Warp Again!

When the country's three largest banks reached agreement on Friday on how to structure a $75 billion fund to prop up distressed securities, an exhausted group of its top planners gathered in a Bank of America conference room to toast...

Bearpont Morgan Mutual Back On The Table?

Not content to allow Ken Lewis be named King of Wall Street, and walk around town flashing the sceptor that comes with, Jamie Dimon is expected to be making a bid for Washington Mutual, which was cut to junk last...

Consider The Swag

It feels like we've been discussing this for decades so let's just decide once and for all which sounds best and do it already: Stearns Morgan Mutual, JPMorgovia, Trust JPM Cayne, or Bearpont Morgan Express. Takeover Targets? [Fortune]...

Speaking Of LAME Excuses To Fire You

According to a well-caffeinated incoming analyst at Bearpont Morgan Chase, Jamie Dimon's henchmen in HR fired at least a handful of new hires for falling asleep during training to make up for last year's overhiring....

Alan Schwartz's Batcyle Requires A Sidecar

Any Wall Street veteran worth his salt knows that the most important weapon with which to line his arsenal is a fall guy. Inevitably he's going to fuck enough shit up that someone's going to have to get fired...

Things At JPM Too Awkward For Schwartz To Stick Around

Charlie Gasparino reports that former Bear CEO Alan "We've Got Liquidity Coming Out Of Every Orifice" Schwartz will leave Bearpont Morgan Stearns at the end of the summer. Schwartz has apparently been "working on some deals" at Bearpont, but decided--as...

Layoffs Watch '08: JPMorgan

Bearpont Morgan Stearns is said to be canning fifteen percent of its research staff this week. Severance is two months plus two weeks for every year with the firm....

Dennis Kneale To Jail?

Many of you were outraged at the comment made by Bearpont Morgan CEO Jamie Dimon to Charlie Rose that the SEC should investigate the "smoke" surrounding the fall of Bear Stearns, because the mixture of gases and suspended carbon particles...

Confidential To JPMorgan Monkeys: Go Home!

The most important thing Bearpont Morgan CEO Jamie Dimon said on record to Charlie Rose? "I hate it when I hear about kids working through the night." Take this tacit approval of you moseying on out of the office at...