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Cry me a river
Feb. 27th, 2010 08:07 am"F.D.I.C. is going to cost us a lot of money."
That was said by Jaime Dimon, the chief executive of JP Morgan Chase. Go ahead, read the rest. The man is a whiny baby who wants to privatize the profits and socialize the risk. (Seriously, read what he's whining about.)
But it's that top quote that's the worst. The FDIC insures that even if a bank goes under, the little people who put their money in the bank (up to $100,000, like it says on the plaques) will not lose everything. Because that's a big freaking chunk of what happened in the Great Depression; people had their life savings in banks, and the banks died. Look at the run on the S&L in It's a Wonderful Life, look at Matthew's death in Anne of Green Gables, look at a goodly chunk of novels with sudden poverty in them written before the 1930's. Bank collapses were very common, and they would take hundreds, thousands, or more with them when they did.
Guess what? That trope is gone, because of the FDIC. And this bleeper wants to defund FDIC further? The reason the FDIC needs more money is because so many banks have gone bankrupt over the last two years. Thanks in no small part to your work, Mr. Dimon.
Suck it up, JP. Suck it the bleep up.
That was said by Jaime Dimon, the chief executive of JP Morgan Chase. Go ahead, read the rest. The man is a whiny baby who wants to privatize the profits and socialize the risk. (Seriously, read what he's whining about.)
But it's that top quote that's the worst. The FDIC insures that even if a bank goes under, the little people who put their money in the bank (up to $100,000, like it says on the plaques) will not lose everything. Because that's a big freaking chunk of what happened in the Great Depression; people had their life savings in banks, and the banks died. Look at the run on the S&L in It's a Wonderful Life, look at Matthew's death in Anne of Green Gables, look at a goodly chunk of novels with sudden poverty in them written before the 1930's. Bank collapses were very common, and they would take hundreds, thousands, or more with them when they did.
Guess what? That trope is gone, because of the FDIC. And this bleeper wants to defund FDIC further? The reason the FDIC needs more money is because so many banks have gone bankrupt over the last two years. Thanks in no small part to your work, Mr. Dimon.
Suck it up, JP. Suck it the bleep up.
