Monday, May 14, 2012

down the drain

Jamie Dimon says he doesn't know exactly what happened to the $2 billion. The head of the JP Morgan/Chase mega-bank may seem clueless, but I'm reasonably certain he's not.

Neither is John Corzine, the former chief of the now-defunct MF Global hedge fund, who sat in front of a congressional committee not very long ago and claimed that the $1.6 billion his firm had lost track of seemed to have "disappeared," to use his word.

Only a naif would believe a word these two grifters are putting out. They know perfectly well in both cases what happened to the "lost" money, but the last thing they're going to do is make that information public.

Don't believe it when they tell you that they're bankers, either. They're gamblers, and in JP Morgan's case, they've taken taxpayers' TARP money and now gambled a bunch of it away with the same kind of reckless double-downs and re-doublings that crashed the economy four years ago.

Just because the corporate press convey the mumbled evasions of banksters without blinking an eye doesn't mean we have to, even in polite society. Our lives will be a little less confusing once we start calling weasels and coyotes what they are -- varmints. Then maybe we'll be able to deal with them appropriately.

No comments: