Recession Busting; The JP Morgan Way!
With defaults on the rise JP Morgan is apparently hearing the beat of a different drummer, as illustrated by their recent announcement that they will be hiring over 1100 new loan officers this year. Just in case you missed it, JP Morgan is the Wall Street bank who purchased home loan behemoth Washington Mutual for a fraction of their worth, when the real estate market collapsed, with tax payers money, of course. Does that jog your memory? Pretty sure it helped out.
Also on their procurement list was fellow Wall Street bank, Bear Stearns, who was denied a bailout by Goldman Sachs Fed Reserve Head, Ben Bernanke and buddy Hank Paulson.
JP's main strategy states that the new loan officers will be strategically placed across the nation and will work from local loan hubs and banks. The part that escapes me is the rationale behind hiring at the point in the economy. With the stated justification being that the real estate market could be turning around and beginning to show signs of improvement, JP Morgan simply wants to be in the best possible position for the home loan clientele. That is not an exact quote but you get the idea.
My question is what do they know that we are not hearing from the media? They are hiring when it seems every other business is laying people off? To many of us, there is no logic in this decision, with the possible exception of them knowing more than all of us.
Since I have no choice, I now have to make my succinct point. The banks have been working diligently to under mine American homeowners and buyers, by holding back on financing real estate transactions to create a market surge that they can ride for higher profits.
As irrational as this decision seems to be, moves like this frequently predicate an unseen change to the vast majority of ignorant and uneducated onlookers, but to the real big players they tend to indicate a possible turn around in the real estate market for our nation! - 23229
Also on their procurement list was fellow Wall Street bank, Bear Stearns, who was denied a bailout by Goldman Sachs Fed Reserve Head, Ben Bernanke and buddy Hank Paulson.
JP's main strategy states that the new loan officers will be strategically placed across the nation and will work from local loan hubs and banks. The part that escapes me is the rationale behind hiring at the point in the economy. With the stated justification being that the real estate market could be turning around and beginning to show signs of improvement, JP Morgan simply wants to be in the best possible position for the home loan clientele. That is not an exact quote but you get the idea.
My question is what do they know that we are not hearing from the media? They are hiring when it seems every other business is laying people off? To many of us, there is no logic in this decision, with the possible exception of them knowing more than all of us.
Since I have no choice, I now have to make my succinct point. The banks have been working diligently to under mine American homeowners and buyers, by holding back on financing real estate transactions to create a market surge that they can ride for higher profits.
As irrational as this decision seems to be, moves like this frequently predicate an unseen change to the vast majority of ignorant and uneducated onlookers, but to the real big players they tend to indicate a possible turn around in the real estate market for our nation! - 23229
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posted by X - Men @ 3:19 AM
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