NYT: JPMorgan Prop Trading Loss May Reach $9 Billion

It's 3:45 am and I decide to check the wires one final time before sleep.  Looks like the London Whale hedge prop bet is becoming more painful to JPMorgan's bottom line and Dimon's fragile ego.  Pretty solid timing on the leak from JPM insiders as well, as this story will soon to be buried by headlines on Obamacare and Fast and Furious as the House votes on Eric Holder and SCOTUS rules at 10 am EST.

Just two days ago the FT reported that things might be looking up for JPM.

IG9 index trading for bitchez, on sale at Amazon, now.  

#SucksToBeJamie

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HR 459 - Ron Paul's 'Audit The Fed' Bill Is Back!

Complete video from today's hearing.  Story plus statements from Issa and Paul inside.

Quick rundown.  257 co-sponsors is fewer than last time, but it will pass the House easily, same as last time.  The real battle will be in the Senate, where Bernie Sanders caved in 2010 and weakened the first audit's scope, though it was still a massive victory as it forced the Fed to come clean on $16 trillion of secret loans to Wall Street.

The only one who tried to weaken the bill was the wondrously gifted gentleman from North Carolina, Rep. Elijah Cummings, who simultaneously sucks on Bernanke's left and right teat.

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Fed's Evans Begs For More QE, Tax Cheats Got $1.4 Billion In Stimulus Loans, Germans Choose Euro Over Deutschmark In New Poll, Houston Strip Clubs Hit By New 'Pole Tax'

UPDATE - Jimmy Carter attacks Barack Obama over assassinations and drone attacks

Tax cheats got $1.4 Billion in stimulus loans

Germans back euros over deutschmarks by small majority, poll finds - FT

Fed's Evans Begs For More QE

BofA Prop Traders To Start Mortgage Hedge Fund - Bloomberg

U.S. Makes Arrests In Global Bank Data Theft Operation

MASSIVE CYBER RAID HITS 60 BANKS; $75 MILLION STOLEN...

Simon Johnson Op-Ed - U.S. Banks Aren’t Nearly Ready for Coming European Crisis

POLL: Voters Disapprove of Obama Blocking Release of Fast & Furious Docs by 2-1 Margin

For-Profit Colleges May Lose Tax Money Under New Rules

Fund Manager Calls For Break-Up Of Banks: 'Worth More Split Up'

Drought May Rival 1980s U.S. Scorcher That Cost $78 Billion

Clerk loses job over stand against welfare for cigarettes

STUDY: Beaches laden with sewage, bacteria...

28.9% unemployment rate in Yuma, AZ

Houston's Strip Clubs Hit by New 'Pole Tax' - WSJ

France 'ready to share budget sovereignty' - Because their banks are toast and their bailout comes after Spain and Italy...

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BREAKING: Bernard Madoff's Brother Peter To Plead Guilty, Forfeits $143 Billion, Will Serve 10 Years

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Madoff Trustee Sues JPMorgan For $6.4 Billion: "They Were At The Very Center Of Madoff Fraud"

A look back at the gentle, comforting fraud of JPMorgan...

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Chasing Bernie Madoff: Film Trailer For New Documentary Starring Harry Markopolos And The Incredibly Inept SEC

This is an outstanding trailer, with several extremely embarrassing clips for the SEC.

Runs 2 minutes.  Details inside.

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Harry Markopolos: "Don’t Trust Your Government"

Today Show Video:  Markopolos with Matt Lauer.

Full write-up inside.

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Watch Obama Get Hammered By Booing Red Sox Fans

Are they booing the Deficit President or are they saying 'Youk' - You decide.

After a five-month hiatus, we're coming back with the hard stuff.  This is actually important for a few reasons.  First, Obama is not a baseball fan.  It's a complete facade.  He can't throw. It's bad, really bad (see the Closer-in-Chief in action).  And he clearly knows nothing about the White Sox, his faux favorite team (watch Obama struggle to name ANY White Sox players), and here with Bob Costas, he calls Comiskey Park - Kaminsky Field.

But here's why it really matters - this incident proves that that Obama's press secretary Jay Carney will never tell the truth if it makes his boss look bad.  Even when there is video proof.

"Anyone who knows Boston, knows the Red Sox and anyone who was in that room last night knows that the preponderance of people shouting in response to what the President said about Kevin Youkilis were saying ‘Yoooook and not Booo’ for God’s sake.” Carney insisted.

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Irish Journalist Vincent Browne Vs. The ECB: "Explain Why The Irish People Have To Bailout Billionaire Bondholders!"

This is outstanding.  If you're rushed for time, just watch the final 90 seconds.  Irish Journalist Vincent Browne shows the ECB how they roll in Eirinn.  The ECB's Klaus Masuch gets a well-deserved earful.

Memo to Erin Burnett - This is how one demonstrates journalistic integrity.

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Dylan Ratigan Puts On A Thomas Jefferson Costume & Launches Into A Top 5 All Time Anti-Bank Rant

Runs 2 minutes.  Not many better than this.

Dylan Thomas Jefferson:

• "Banks have taken over the government and made taxpayers slaves to bank-run gambling casinos."

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In Ireland, Cancer Patients Lose Out To Bank Bondholders

Serving as a cautionary tale in the age of Obamacare and bank bailouts...

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VIDEO - Clint Eastwood's Chrysler Super Bowl Commercial: "It's Halftime in America"

Though all of the youtube versions have been pulled, we found this copy from SPIKE TV.  In case you were wondering, Chrysler still owes $1.5 billion to taxpayers:

• Chrysler - ProPublica Bailout Tracker

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Fed Prez Who Owns Over $1 Million in Gold, Greek Bailout May Have To Be $19.7 Billion Higher, How The Government Manufactures Low Unemployment Numbers (LINKS)

Fed Prez Who Owns Over $1 Million in Gold

Greek Bailout May Have to Be $19.7 Billion Higher

Greece misses another bailout deadline - Reuters

Foreclosure deal deadline arrives, not all states are yet on board

How the government manufactures low unemployment numbers

Final Nail In NFP Tragicomedy: Record Surge In Part-Time Workers

Boo Hoo - The Wall Street Perk Diet

Gingrich's Security Team Sued for Assault and Battery Against Ron Paul Supporter

Noam Chomsky Supports Ron Paul's Foreign Policy - Video

John Bolton Says It’s NOT In The U.S. ‘Interest To Stay Out’ Of An Israel-Iran War

House bill bans welfare spending at strip clubs, liquor stores and casinos

Goldman's Blankfein endorses same-sex marriage

Contrary to Government Claims of 243,000 Jobs Created, Hundreds of Thousands of Jobs Were Actually LOST In January

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Money Coming Out The Wazoo

The height of the internet bubble.

Etrade Super Bowl Commercial - Year 2000

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