JP Morgan just had the most profitable 12 months ever for a US bank but it wasnt enough for Jamie Dimon, the banks boss.
Its almost an embarrassment being an American traveling around the world and listening to the stupid **** Americans have to deal with in this country, Dimon told journalists after the bank released its latest quarterly results on Friday.
The worlds largest bank reported a profit of $7.03bn for the second quarter, 13% higher than last year. It has made $26.5bn over the past 12 months, a record profit for a US bank.
Who cares about fixed-income trading in the last two weeks of June? I mean, seriously, Dimon said after a reporter asked about the health of the bonds markets.
That is the weather, he said of changes in the markets. It goes up and down, this and that, and thats 80% of what you guys focus on.
Dimon said financial journalists would be better off concentrating on the bad policies that are hurting average Americans.
Its almost an embarrassment being an American traveling around the world and listening to the stupid **** Americans have to deal with, he said. At one point, we would have to get our act together, do what were supposed to do to the average American.
Considering the fact that American legislators are unable or unwilling to act and argue in good faith about what they want to accomplish, let what they thinking of doing to accomplish that, it's not unreasonable to become extremely frustrated about the current situation.
The lack of clarity, honesty and good faith in the current discourse surrounding the Republican attempt to change healthcare laws is symptomatic of this problem. Hell people are speculating that senators are betting that the worst effects of the legislation they have publicly unveiled won't actually be implemented because it's set to be done in the far future, leaving time for someone else to step in and fix the legislation.
This isn't the kind of political spin most other countries experience in fact I'd argue that it's highly exceptional and not in a good way.
via International Skeptics Forum http://ift.tt/2vouWhv