All the talk about Jamie and J.P. Morgan’s strength. One wonders about the relative strength of JP CHASE in the last crises and since. Has Jamie used the flexible accounting regulations to avoid mark-to-market and, perhaps, look better than the other banks? One wonders, what does tomorrow bring for Jamie’s bank? Will the losses become so large that [...]
Despite our suffering during the last four years with your most supreme arrogance and hubris we applaud you as the king of a corrupt system, a system where: 1) Derivatives outstanding in “bank” proprietary hands are at the highest level in history. Why not? Financed by taxpayers and depositors at 0% interest, a great opportunity to [...]
by Asher B. Edelman April 8, 2008 I said the financial system would need at least 100 times the $30 billion advertised by the Fed as the ultimate need to save the system. I was wrong. Three trillion dollars was not sufficient to save the banks; it took somewhere between $13 trillion (AE estimate) and [...]
Unwrapping the paintings for our “Abstraction” exhibition, I had a shock or at least a wonderful surprise. I called to my associates and said, “Wow, who of you managed to get this de Kooning ‘Landscape’ painting?” The answer: “We have no de Kooning ‘Landscape’ painting for the show. That is a Mary Abbott.” Circa 1950-1951, [...]
by Asher B. Edelman In April of 2010 I wrote my first note about Greece in which I suggested that €30 billion would not solve or even impact the Greek problems. In that same letter I suggested three possible courses Europe, the IMF and the rest of the world might take, the third being the [...]
All the talk about Jamie and J.P. Morgan’s strength. One wonders about the relative strength of JP CHASE in the last crises and since. Has Jamie used the flexible accounting regulations to avoid mark-to-market and, perhaps, look better than the other banks? One wonders, what does tomorrow bring for Jamie’s bank? Will the losses become so large that [...]
Despite our suffering during the last four years with your most supreme arrogance and hubris we applaud you as the king of a corrupt system, a system where: 1) Derivatives outstanding in “bank” proprietary hands are at the highest level in history. Why not? Financed by taxpayers and depositors at 0% interest, a great opportunity to [...]
by Asher B. Edelman An interesting fight looms in Congress. The Tea Party lead Republicans are fighting to double the interest rates on student loans to 6.8%. The Treasury (U.S. Government) borrows from and through the banks at a rate of 1% to 3%. The Fed (U.S. Government) then loans money borrowed by the Treasury [...]
by Asher B. Edelman April 8, 2008 I said the financial system would need at least 100 times the $30 billion advertised by the Fed as the ultimate need to save the system. I was wrong. Three trillion dollars was not sufficient to save the banks; it took somewhere between $13 trillion (AE estimate) and [...]
Unwrapping the paintings for our “Abstraction” exhibition, I had a shock or at least a wonderful surprise. I called to my associates and said, “Wow, who of you managed to get this de Kooning ‘Landscape’ painting?” The answer: “We have no de Kooning ‘Landscape’ painting for the show. That is a Mary Abbott.” Circa 1950-1951, [...]
by Asher B. Edelman In April of 2010 I wrote my first note about Greece in which I suggested that €30 billion would not solve or even impact the Greek problems. In that same letter I suggested three possible courses Europe, the IMF and the rest of the world might take, the third being the [...]
by Asher B. Edelman – I don’t think so! In the last one hundred years Germany has made two attempts to own, control and dominate Europe. Each has been repulsed. Can this third attempt succeed? I don’t think so! France, as has always been the case, is the weak sister concealing its own financial disaster; [...]
Dear Friends, today the Occupy Wall Street protesters were evicted from Zuccotti Park. Regardless of one’s political or economic persuasions, this act will be seen as having been cavalier and performed without thoughtful examination. What was a peaceful protest against the banking community and our government, who has donated and continues to donate tax payer [...]
Dear Friends, Yesterday I received a document by email from an old friend and partner, that I’m going to make available here. As most of you, if not all, maintain accounts at both banks and brokers, or at least one or the other, it should be of interest to understand, to what extent the financial [...]
YEA! Yea for Europe (we hope)! On October 27 the European community announced the “solution” to sovereign debt and European banking. Some issues were left a bit unclear such as: 1) Does the “voluntary” default constitute a default especially as to credit swaps? That issue will determine which banks fail first, though the intent is [...]
