Recession Breaking; The JP Morgan Way!
Apparently JP Morgan is hearing a different news report than most of the nation, as it recently announced plans to hire about 1200 loan officers across the nation. In case you did not know who they are, they are the Wall Street bankers who acquired WAMU to get out from under several billion dollars worth of tax money they owe to the government. Ringing a bell yet? Sounds very familiar now.
They also went after and managed to buy failed Wall Street competitor, Bear Stearns, who ex-Goldman Sachs honcho Ben Bernanke and Hank Paulson decided wasn't worthy of a bailout.
JP's main strategy states that the new loan officers will be strategically placed across the nation and will work from local loan hubs and banks. The confusing part is the reasoning for the hiring decision. With the stated justification being that the real estate market could be turning around and beginning to show signs of improvement, JP Morgan simply wants to be in the best possible position for the home loan clientele. That is not an exact quote but you get the idea.
It really makes anyone wonder what indicators are they seeing that make them make these decisions. Every week people seem to be losing their jobs more than ever before? For the majority of people, this is illogical, unless they know more than everybody else somehow.
To get to the heart of the matter, I will make my main point. The banks have been working diligently to under mine American homeowners and buyers, by holding back on financing real estate transactions to create a market surge that they can ride for higher profits.
Given that these kinds of illogical moves are typically seen when the CEO of a company dumps his stock the day before the company goes public with some bad report, we may be seeing the end of a suppressed real estate market very soon! - 23311
They also went after and managed to buy failed Wall Street competitor, Bear Stearns, who ex-Goldman Sachs honcho Ben Bernanke and Hank Paulson decided wasn't worthy of a bailout.
JP's main strategy states that the new loan officers will be strategically placed across the nation and will work from local loan hubs and banks. The confusing part is the reasoning for the hiring decision. With the stated justification being that the real estate market could be turning around and beginning to show signs of improvement, JP Morgan simply wants to be in the best possible position for the home loan clientele. That is not an exact quote but you get the idea.
It really makes anyone wonder what indicators are they seeing that make them make these decisions. Every week people seem to be losing their jobs more than ever before? For the majority of people, this is illogical, unless they know more than everybody else somehow.
To get to the heart of the matter, I will make my main point. The banks have been working diligently to under mine American homeowners and buyers, by holding back on financing real estate transactions to create a market surge that they can ride for higher profits.
Given that these kinds of illogical moves are typically seen when the CEO of a company dumps his stock the day before the company goes public with some bad report, we may be seeing the end of a suppressed real estate market very soon! - 23311
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posted by Mr. Forex at
4:40 AM
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