Quote Of The Day -- Jamie Dimon

From Jamie Dimon's testimony yesterday before the FCIC on JPM's risk management practices before the housing crash:

• "We didn't do a stress test where housing prices fell."

Housing prices tripled in some areas from 2000 to 2006, and he couldn't even imagine a scenario under which house prices might fall. 

Smells like stupidity.

---

source:  Kevin Drum at Mother Jones

Comments

[DailyBail]

Wait, Are You Really Surprised That Banks Never Modelled A Housing Downturn?

http://www.businessinsider.com/wait-are-you-really-surprised-that-banks-never-modelled-a-housing-downturn-2010-1

[DailyBail]

http://www.cnbc.com/id/34863145

Can We Stop the Attack on Bankers?

Editorial

by Larry Kudlow

[DailyBail]

http://www.cnbc.com/id/34863417

Editorial

Tony Fratto: Banks Trapped in Obama's Hotel California

[SPEAR.ESQUIRE]

Why are people even bothering with CNBC? I haven't watched it in months and I feel great! :D

[DailyBail]

Spear...

it's an editorial from Kudlow above not video...

[RecoverylessRecovery]

C an
N ever
B e
C orrect

[DailyBail]

C omplete

N onsense

&

B ullshit

C hannel

[SKINFLINT]

Dimon speaks. No one listens. Almost.http://www.bloomberg.com/news/2013-06-06/dimon-predicts-volatility-as-global-liquidity-returns-to-normal.html