Monday, October 21, 2013


John Dillinger used to rob banks back in the 1930ies.  Story has it that he had a girl friend known as "The Lady in Red," her, favorite color, who dropped a dime on him (maybe it was a nickel in those days) to the G's who, taking no chances, ended John's career with a hail of bullets from 20+ shooters  in Hammond, In.  Willie Sutton tried to pick up where John left off c. 1950 but we really haven't seen a equal to Dillinger since.  Up to today that is.

The Leader and his thug of an Attorney General makes Dillinger look like a kid lifting bubble gum out of a candy store.  The Great Bank Robberies (for there will be more) of 2013 begins with J.P.  Morgan and ends God knows where.  Besides being where the money is as Willie used to put it, Morgan is a wonderful target because of it's Chairman, Jamie Dimon.  Now you know my views on Jamie so there is no point in retilling plowed ground, but Jamie after being the #1 guy on the Street during The Leader's first campaign in 2008 actually began to believe that his support had given him access to the now-President of the United States.  As in most things Jamie was right but he never realized that the access was only to tell The Leader things The Leader wished to hear, not that he was screwing up almost from the git-go.  The Leader doesn't like that.  Say goodnight, Jamie.  and thanks for allowing us to treat you and your shareholders as an object lesson for all those out there who think they can say anything but, "Yes sir, yes sir, three bags full sir."

$13 billion in fines and more to come, not to mention the possibility of felony charges hanging like a Sword of Damocles should the message be somehow misunderstood.  This is the most disgraceful rip off I have ever seen n my long life.  Now Morgan is not staffed with Little Sisters of the Poor but for the institution to be saddled with this punishment for activities, the majority of which were undertaken by entities that they were encouraged to absorb on behalf of the "SYSTEM," is disgraceful.

I'm not going to go into chapter and verse as to where the blame should lie or attempt to apportion it to the many institutions involved and to the politicians who enabled the major players to damn near wreck the financial system (Remember Barney..."I think I'll roll the dice on this one..." whilst spewing enough saliva to expunge a small camp fire) but it might not be a bad idea to question where all of this is going to put us.

Fear not for J.P.Morgan or Citibank, or Bank of America, but does anyone actually believe that with creatures like The Leader and Holder hanging about in the executive branch and Crazy Lizzy, who apparently never met a bank she liked that had total footing over $250,000 leading the charge in the legislature, that the guys running these institutions never had the thought cross their minds that maybe buggering out of what we refer to as retail banking might not be such a bad idea because if you don't deal with the public it's hard even for Holder & Co. to accuse you of screwing them?  Now there's a step forward in the growth prospects of the United States isn't it?  North Carolina National Bank, ("NCNB"), from whose loins sprang Bank of America, was known in the trade as No Credit for Nobody.  Just what we need; fewer players on an already emptying playing field with the very real possibility of unintentional mono plies arising.  "That won't happen, Charlie, well force 'em to make loans!"  Ah, and how are you going to do that my friend if they are no longer here?"  You don't need brick and mortar for a non retail business.  Get what I'm suggesting?  Oh, not today nor not even tomorrow, but keep it up and that is exactly what you may get.   The Lady in the Red Dress is a high maintenance broad.  Don't mess with her.

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