May 12, 2012
Sir, in reference to John Gapper´s “Jamie Dimon is a whale of a hedge fund manager” May 12, I would not make such a big thing about the 2 billion dollars or so in losses sustained by JP Morgan.
Allowing the banks to lend out to the “infallible sovereigns” against no capital at all, signifies putting all ours, and our children’s´ and our grandchildren’s’ funds, in a truly mindboggling huge hedge fund where the proprietary dealings are not made by a Jamie Dimon, but by some unknown government bureaucrats… with certainly more skewed incentives…and that I guarantee will be much more harmful for tax payers than whatever a JP Morgan can invent.
Frankly sometimes I feel the urge of picking up the phone and calling a Mr. Dimon or someone like him, to beg him to help me save my small savings… that is as long as he agrees to do that in the shadows, as far away as possible from our current loony banks regulators.