What are the chances that Charlie & Co. have been pro-active in preparing for the potential catastrophic effects of a U.S. Default?? 🤭
I say this hasn’t even been on their radar, at least until now, when some apple-polisher will bring the article to Charlie because “Jamie is doing it”.
are you really that ignorant of how banking works and what is required of SIFIs?
Or are you just busy polishing JD's apple....
Post ID: @1waq+1mBBuNuL
You must be the apple-polisher 😂.
If you know so much about it, OF COURSE you will prove that here. If not, than YOU are the sh-t- stirrer.
Come on now. If you’re going to open that mouth of yours, you better have something intelligent to say to back it up.
OP is just a s-it stirrer here or truly ignorant.
Of COURSE there is contingency planning going on in every major bank, including WF
The only difference for chase is that jamie dimon is great at bragging about these types of routine things to make him seem so special.
Do people on this board really work in financial services?
Tax revenues at all time high - really? Maybe YOUR taxes are at an all time high since you’re not a billionaire but tax revenues being higher than the past mean more people having more jobs. Spending being higher than ever driven by more people needing more services.
This country does have a spending problem in some areas but they also have a hard time separating spending to spend from spending to invest. Our infrastructure sucks our education system sucks, our healthcare system sucks. Why? Because we spend on things that are not investments, they are things. Oh, and because being a politician has become a get rich quick scheme for individuals who sell us out to corporate “interests”.
His and all the other War Rooms also ship jobs out to India and China.
@1owm+1mBBuNuL Thanks for the belly laugh - that’s some Wells Fargo math right there. 😭😭😭
Tax cuts routinely bring in more tax revenue, not less. There's a point of diminishing returns of course, but the US hasn't approached that in our lifetimes. 80s tax cuts doubled tax revenue.
Hopefully all our leaders can lock themselves in the war room and it gets blown up by the employees. Then we hold a celebratory parade and go back to working remote with no hubs! We can bring back all the displaced employees! Now that is a plan!
They are preparing for the wrong thing. Everyone should prepare for the eventuality that debt will destroy the nation. It will happen the day we spend more than what we take in with taxes and what people will loan us. Then we are royally screwed.
The debt limit drama going on now? Neither party has any interest in taking their feet off the gas of wasteful spending. They will gnash their teeth. There might be a temporary and irrelevant "shut down", but in the end they will agree to spend us into more debt. It's happened dozens and dozens of times over the last handful of decades. This round will end like all the rest, because actual fiscal responsibility of any kind has been demonized to the point that no one in power will tolerate it. They'd rather burn it all down, down the road, then suffer a little pain in the short term.
Wells Fargo doesn’t prepare. Wells Fargo reacts - after they see what everybody else does.
There is no leadership. Charlie is an empty suit.
JP Morgan is being lead by Jamie Dimon, the world’s preeminent banker.
Wells Fargo is being lead by The Tinder Swindler and The Real Househusbands of New York.