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CNBC's Kudlow and Cramer last night (Wed): mentioned JP Morgan rolling over
in his grave !!!
> -----Original Message-----
> From: M. Simms [mailto:prosys@xxxxxxxxxxxxxxxx]
> Sent: Tuesday, September 10, 2002 9:07 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: RE: Re[6]: [RT] Money supply charts
>
>
> That's the problem.....banks are no longer banks.....because of government
> regulations.
>
> JP Morgan is rolling over in his grave.
>
> > -----Original Message-----
> > From: Jim Johnson [mailto:jejohn@xxxxxxxxxxx]
> > Sent: Tuesday, September 10, 2002 7:16 PM
> > To: M. Simms
> > Subject: Re[6]: [RT] Money supply charts
> >
> >
> > Hello M.,
> >
> > I don't know what the default rates are but it doesn't matter. if
> > you have money and have several things you can do with it (lend it to
> > A, lend it to B, invest it, put it in a mattress) you will do whatever
> > you think is "best". I suggest best is defined differently for each
> > "agent" but the banks in general must all look at the options and be
> > concluding something makes more sense from a risk/reward than
> > commercial lending. Otherwise, you are implying that banks should
> > lend to commercial borrowers regardless of their assessment of
> > risk/reward.
> >
> > You can't blame the banks (unless they are doing something illegal).
> > As it stand they are simply participating in a free economy like all
> > of us. Now one could fault the policy makers/legislators for allowing
> > banks to move into other areas of finance. You asked before "what
> > function do they perform?" Seems to me their function is to use the
> > assets they have in the best interests of their stakeholders (owners,
> > employees, etc.) the question you might ask is "why is a function
> > going unperformed in this economy?" Banks are under no legal or moral
> > obligation to perform a function just because you may feel it should
> > be performed. I think changes in legislation has allowed banks to
> > perform other functions which they apparently see as in the better
> > intersts of their stakeholders.
> >
> >
> > Best regards,
> > Jim Johnson mailto:jejohn@xxxxxxxxxxx
> >
> > --
> > Tuesday, September 10, 2002, 6:44:41 PM, you wrote:
> >
> > MS> But are the DEFAULT RATES that high statistically ?
> > MS> I had always thought they were in the 5-10% range...no ?
> >
> >
> > >> -----Original Message-----
> > >> From: Jim Johnson [mailto:jejohn@xxxxxxxxxxx]
> > >> Sent: Tuesday, September 10, 2002 12:13 PM
> > >> To: M. Simms
> > >> Subject: Re[4]: [RT] Money supply charts
> > >>
> > >>
> > >> Hello M.,
> > >>
> > >> I have a feeling those borrowers have already maxed out their credit
> > >> cards. Somebody is paying that price for money. Says to me the risk
> > >> premium in lending is very high. that's why they call this
> > >> "sub-prime" lending. would you lend me money at say 3% over
> your cost
> > >> is you thought the chances were 50/50 I pay it back? 60/40? etc. So
> > >> its about supply (seems to be money around), demand (don't know but I
> > >> assume there are willing borrowers), and terms. its the latter that
> > >> is the sticking point. I don't see it as greed or avarice as Ira
> > >> suggests. It's just prudence. Am i greedy because I won't
> take out a
> > >> long position in the NDX with half my wealth? No. its an imprudent
> > >> risk that my stakeholders (me, wife, kids) won't stand for.
> > >>
> > >>
> > >> Best regards,
> > >> Jim Johnson mailto:jejohn@xxxxxxxxxxx
> > >>
> > >> --
> > >> Tuesday, September 10, 2002, 11:50:10 AM, you wrote:
> > >>
> > >> MS> With an inflation rate of 1-2% and long term rates at 4-5%,
> > >> MS> that 16% is analogous to Mafia extortion rates of the 1930's.
> > >>
> > >> MS> I see no advantage compared to credit card rates of 18% that
> > >> don't require
> > >> MS> that collateral....
> > >> MS> am I missing something here ?
> > >>
> > >> >> -----Original Message-----
> > >> >> From: Jim Johnson [mailto:jejohn@xxxxxxxxxxx]
> > >> >> Sent: Tuesday, September 10, 2002 10:16 AM
> > >> >> To: M. Simms
> > >> >> Subject: Re[2]: [RT] Money supply charts
> > >> >>
> > >> >>
> > >> >> Hello Mark,
> > >> >>
> > >> >> In theory (as in Michael Porter) if there was less-risky
> > profit to be
> > >> >> had in business lending someone would quickly fill the
> void. As it
> > >> >> stands they apparently see profit with less risk in other
> > areas. Many
> > >> >> businesses have shown themselves to be less than great bets--big
> > >> >> plans, fancy accounting, bubble-driven optimism all around.
> > Would you
> > >> >> lend money to a business right now? Or at what rate and at what
> > >> >> level of collateral? Met a guy at the gym the other day.
> He lends to
> > >> >> small businesses--takes mortgage on the house at 16%,
> collateralizes
> > >> >> every piece of personal property. That's the picture of
> risk/reward
> > >> >> today in commercial lending I guess.
> > >> >>
> > >> >>
> > >> >>
> > >> >>
> > >> >> Best regards,
> > >> >> Jim Johnson mailto:jejohn@xxxxxxxxxxx
> > >> >>
> > >> >> --
> > >> >> Tuesday, September 10, 2002, 9:43:39 AM, you wrote:
> > >> >>
> > >> >> MS> This is interesting.....since Banks aren't lending anymore
> > >> >> for businesses to
> > >> >> MS> expand, what function do they perform ?
> > >> >> MS> Man, this really smacks of a "just like Japan" condition.
> > >> >>
> > >> >> >> -----Original Message-----
> > >> >> >> From: Daniel Goncharoff [mailto:thegonch@xxxxxxxxxx]
> > >> >> >> Sent: Tuesday, September 10, 2002 12:32 AM
> > >> >> >> To: realtraders@xxxxxxxxxxxxxxx
> > >> >> >> Subject: Re: [RT] Money supply charts
> > >> >> >>
> > >> >> >>
> > >> >> >> Actually, the lack of CP issuance says more about the level
> > >> of fear of
> > >> >> >> more corporate surprises. Remember that with CP, the bank that
> > >> >> >> underwrites it has the default risk. These days, who is
> > >> going to take
> > >> >> >> that risk?
> > >> >> >>
> > >> >> >> For the historical perspective that the collapse of Penn
> > >> Central in the
> > >> >> >> early 70s (IMS) nearly brought down Goldman Sachs.
> > >> >> >>
> > >> >> >> Regards
> > >> >> >> DanG
> > >> >> >>
> > >> >> >> "M. Simms" wrote:
> > >> >> >> >
> > >> >> >> > Wow - Commercial Paper activity......lowest in more
> > than a decade.
> > >> >> >> > That kind of says it all as far as overall business activity.
> > >> >> >> >
> > >> >> >> > > -----Original Message-----
> > >> >> >> > > From: Terry B. Rhodes [mailto:trhodes3@xxxxxxxxx]
> > >> >> >> > > Sent: Monday, September 09, 2002 11:40 AM
> > >> >> >> > > To: realtraders@xxxxxxxxxxxxxxx
> > >> >> >> > > Subject: Re: [RT] Money supply charts
> > >> >> >> > >
> > >> >> >> > >
> > >> >> >> > >
> > >> >> >> > > > We haven't seen an update of your money supply chart on
> > >> >> >> > > realtraders in awhile. Could you publish an updated
> > >> chart? Thanks.
> > >> >> >> > > >
> > >> >> >> > >
> > >> >> >> > > You can view money supply charts here
> > >> >> >> > >
> > >> >> >> > > http://www.martincapital.com/charts.htm
> > >> >> >> > >
> > >> >> >> > > regards,
> > >> >> >> > >
> > >> >> >> > > tbr
> > >> >> >> > >
> > >> >> >> > >
> > >> >> >> > > To unsubscribe from this group, send an email to:
> > >> >> >> > > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >> >> >> > >
> > >> >> >> > >
> > >> >> >> > >
> > >> >> >> > > Your use of Yahoo! Groups is subject to
> > >> >> >> http://docs.yahoo.com/info/terms/
> > >> >> >> > >
> > >> >> >> > >
> > >> >> >> > >
> > >> >> >> >
> > >> >> >> >
> > >> >> >> > To unsubscribe from this group, send an email to:
> > >> >> >> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >> >> >> >
> > >> >> >> >
> > >> >> >> >
> > >> >> >> > Your use of Yahoo! Groups is subject to
> > >> >> >> http://docs.yahoo.com/info/terms/
> > >> >> >>
> > >> >> >>
> > >> >> >> To unsubscribe from this group, send an email to:
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> > >> >> >>
> > >> >> >>
> > >> >> >>
> > >> >> >> Your use of Yahoo! Groups is subject to
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> > >> >> >>
> > >> >> >>
> > >> >>
> > >> >>
> > >> >>
> > >> >>
> > >> >>
> > >> >> MS> To unsubscribe from this group, send an email to:
> > >> >> MS> realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >> >>
> > >> >>
> > >> >>
> > >> >> MS> Your use of Yahoo! Groups is subject to
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> > >> >>
> > >> >>
> > >> >>
> > >> >>
> > >> >> To unsubscribe from this group, send an email to:
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> > >> >>
> > >> >>
> > >> >>
> > >> >> Your use of Yahoo! Groups is subject to
> > MS> http://docs.yahoo.com/info/terms/
> > >>>
> > >>>
> >
> >
> >
> >
> >
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> >
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