WHY DIMON’S TESTIMONY DOESN’T MATTER
A circus dwarf sat on the lap of J.P. Morgan, Jr. and posed for pictures while the storied banker waited to testify before a senate committee on the 1929 crash.
A lot has changed since 1933, but some things have remained constant. Jamie Dimon, CEO of J.P. Morgan JPM is testifying in front of the same senate committee that interrogated J.P. Morgan, Jr.; politicians will grandstand much like they did in 1933, and some will show off their ignorance of the complexities of banking.
In anticipation of this hearing, we have accumulated a partial position in J.P. Morgan to take advantage of market weakness as well as weakness caused by the unexpected trading loss disclosed last month.… Please click here or the title below to read more.
June 13, 2012