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Friday, May 11, 2012

Jamie Dimon Friday!

It has been fun watching the talking heads try to defend Jamie on CNBC. Here is the poster boy for fighting banking and investment regulations, and in one month, thanks to a London Trader who was supposed to be "hedging" risk, instead lost 2 billion selling Credit Default Swaps. What has not been covered so far, is that at one point in april, HIS EXPOSURE EXCEEDED 100 BILLION DOLLARS! Jamie's response; "the losses were due to egregious and self inflicted mistakes from trades that were poorly executed and poorly monitored". So it continues to beg the question, if the supposed smartest guy in the business can be surprised by such a loss, we have to return to the question of too big to fail being just too big, and the separation of banks from investment houses. Let Jamie go run a private hedge fund and screw that up, and put someone in charge of the banking business. Add this to what is currently happening to the banks and currency devaluations in Europe, and this could be an interesting summer for world markets. Anyway, hit the gym today and tried a slightly different tact. I started out on one of those elypticals I hate and did that for five minutes as a warmup. Then I got on the treadmill at a 6% incline, and did two minute slog intervals with 30 second walks for a total of 20 minutes. Then I jumped on the exercycle for 20 minutes. So 45 minutes of aerobic activity followed by the usual full body weight lifting. Then I came home and iced while watched the Jamie Dimon show.
Yesterday after an hour and fifteen minute bike ride, I took a few blooming cactus pictures in the yard. We had 48 hours of solid rain for the first time this year, so everything bloomed. In the next week, all those little weed seeds will sprout, and I will end up at walmart picking up some weed killer.....

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