Thursday, May 17, 2012

Ina Drew a nice salary until last week

$2 billion loser
Up on Wall Street, where the smartest and the brightest play with your pension funds and are supposed to know what they are doing, a woman named Ina Drew made some foolish investments in European derivatives (which I always thought was a term to describe all those half-fast princes who drove race cars and married Zsa Zsa Gabor.)   Ina's boo-boo cost her firm $2 billion.
I need to meet Ina Drew.  I just have to wonder if she thought, that day in her office as she ker-chunked the numbers on her adding machine in the office, and when the printer printed out $2,000,000,000.00, did she say what new Oriole Bill Hall said on live TV on Saturday night when Adam Jones pasted him on the mug with a shaving cream pie? 

"Oh, Shiiiiiittttttttttttt..."

And then did she go down the hall to see the head cheese of JPMorgan Chase, this banker with a gangster name Jamie Dimon, and say, "Boss, I got some bad news for you..."

Then the boss, managing somehow to avoid spilling coffee on his $750 tie, realized that this meant he would have to go on "Meet The Press" and Face The Music.

I like what Mike Lupica wrote in the New York Daily News paper the other day:
 "You have to know Dimon is the guy always standing up and acting insulted at the notion of more regulation, even after what happened after all the dumb, freewheeling, Vegas years of Bush and Cheney. Dimon is the one always saying that the economic recovery in America has been slowed by too much regulation, and likes to go around calling any Democrat who talks about more federal regulation of banks like his as being "anti-business."
Jamie "Baby Face" Dimon
In 2008, this nation's economy almost went under and we were very close to another great Depression, and even so, every attempt that level-headed people have tried to make to rein in these people who seem to be quite far out of their heads as they gamble poorly with peoples' hard-earned savings and pension funds.  Dimon says  that such regulations are  "attacks ... on successful people" which is like John Dillinger saying that laws against bank robbery were restraints upon his trade.

Only in America can a firm lose $2,000,000,000.00 and call themselves successful.  He must be thinking of the old Bob Dylan line, "There's no success like failure, and failure's no success at all."

Are you still thinking that the Occupy Wall Street people are the worst people on earth?

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