Is NYPD Police Commissioner Ray Kelly is About to Take a Job at JP Morgan?

Thought the revolving door couldn’t get any worse? Think again. The Banana Republicization of these United States is now traveling at hyperloop speed. It’s one thing for folks at the SEC and Congress to jump ship for Wall Street, but the head of the country’s largest police force going to JP Morgan? This is particularly … Read more

Video of the Day: Interview with Matt Taibbi About JP Morgan and the CNBC “Presstitutes”

The top definition of presstitute according to Urban Dictionary is: 1. presstitute A member of the media who will alter their story and reporting based on financial interests or other ties with usually partisan individuals or groups. It has become abundantly clear in recent years that the mainstream media can not be identified as anything … Read more

JP Morgan Targets Twitter Activist and Subsequently Takes His Handle

In one of the more bizarre stories I have seen in a while, Dallas-based graphic designer Chase Giunta was forced to give up a Twitter handle he had been using for years after JP Morgan complained. He had been using the handle to retweet criticisms of the TBTF bank, and after he refused to sell the … Read more

Of Course, J.P. Morgan is Right at the Center of the Latest Italian Bank Scandal

This should come as no surprise to anyone paying even the slightest bit of attention to the ongoing theft and fraud being perpetrated by the “too big to jail” financial oligarchs.  J.P. Morgan in particular these days seems to have its grubby, crony paws in almost every degree of theft one can imagine.  From Vatican … Read more

It’s About Time: JP Morgan Enters the Housing Slumlord Trade

It was just a matter of time before the most powerful crony capitalist bank in America decided to join the housing trade.  Making money running the food stamp program just wasn’t enough for Your Crony Highness Jaime Dimon and company, it’s time to join his financial oligarch brothers in the bidding war to corner the housing market and become your overlord.  That way they can control how you eat (food stamps) and where you sleep.  It’s become very clear what the large financial interests in these United States are attempting.  Funnel all the low interest crony American money, with a dash of Chinese laundered money, into the “housing recovery.”  From Bloomberg:

JPMorgan Chase & Co. (JPM) is giving its wealthiest clients the chance to invest in the single-family rental market after other investments linked to the U.S. housing recovery jumped in value.

The firm’s unit that caters to individuals and families with more than $5 million, put client money in a partnership that bought more than 5,000 single family homes to rent in Florida, Arizona, Nevada and California, said David Lyon, a managing director and investment specialist at J.P. Morgan Private Bank. Investors can expect returns of as much as 8 percent annually from rental income as well as part of the profits when the homes are sold, he said.

The bank’s wealthy clients are joining a growing number of private-equity firms and individuals buying rental homes in the regions hardest hit by the U.S. housing crash. Blackstone Group LP (BX) has spent $2.7 billion, and said last month it accelerated purchases as home prices rise faster than anticipated. Even after home values in November gained by the most in six years, investors are wagering on rental properties as an alternative to housing-related stocks and mortgage debt that’s already soared.

The strategy is similar to institutional buyers including Blackstone, the world’s largest buyout firm, Thomas Barrack’s Colony Capital LLC, and Oaktree Capital Group LLC. (OAK) They’re aiming to profit from low prices on distressed properties, often those in foreclosure and sold at auction — and the demand for rentals from people who don’t want to own a home or can’t qualify for a mortgage.

Now here’s where the article gets really interesting.

“It’s hard to find a private-equity firm on the planet that doesn’t have a strategy in this space,” Gary Beasley, chief executive officer at Waypoint Homes, said last week at the American Securitization Forum’s annual conference in Las Vegas. The Oakland, California-based company has bought homes in California, Arizona, Illinois and Georgia.

Sure seems like the right time to buy housing.  You know, after every single pool of aggressive private capital in the nation and abroad is already bidding.

Now take a look at how poor the returns are.  This is what happens when things get too crowded.

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JP Morgan Under Investigation for Manipulating Power Markets

JP Morgan is a criminal enterprise sanctioned at the highest levels of the U.S. government.  Jaime Dimon is nothing more than a mob boss.  Period.  End of story. Key Quotes: The bank has twice received subpoenas in the last three months to produce 25 e-mails detailing how it bid for energy contracts. The bank has … Read more

Why the American Economy is Chronically Dysfunctional in One Article

This is a must read article from Bloomberg.  So the banksters steal billions (if not trillions) from the American economy and then they spit out a couple of million to desperate charities at black tie events in order to feel good about themselves.  Robot-man himself, John Thain (I remain unconvinced that he is human), then … Read more

Jaime Dimon is a Welfare Baby

There is nothing more annoying than seeing the giant “welfare baby” gangster named Jaime Dimon parade around dismissing criticism of the banks, acting as if he has skills, when in reality his entire existence would have vaporized if not for his ability to infinitely suck at the teat of the Federal Reserve. Hey, but don’t … Read more

Jamie Dimon And The Fall Of Nations

Excellent article here by Simon Johnson, the former chief economist for the IMF and a professor at MIT’s Sloan business school.  I think the following paragraph pretty much summarizes the root cause of America’s decline into Banana Republic status… The historical evidence is overwhelming. Many societies have done well for a while – until powerful … Read more

Picture of the Day!

This picture pretty much sums up what I think of The Bernank, Jamie Dimon and this Banana Republic of a country we call the United States.  Have a great weekend everyone, including you Dimon, you little crony capitalist gangsta. Like this post? Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G Follow me on Twitter.