Chase Bank and at risk accounts.

[LexusLover]

Originally Posted by lustylad

If you ever took a course in Banking 101,


Btw, your first two paragraphs are completely incoherent and I have no idea what you are talking about.

.

Given your source course, I can understand you comprehension problem.

Every loan on a bank's "books" is a "contingent" asset. The "contingencies" are only limited by one's imagination. Used to be called "funny money."

Let me give you an example ....

The savings and loans in the 70's had plenty of loan "assets" on their books.

Do you know the rest of the story?

Put you Banking 101 text book back were it does the best. Paper weight.

[lustylad]

Originally Posted by LexusLover

Given your source course, I can understand you comprehension problem.

Every loan on a bank's "books" is a "contingent" asset. The "contingencies" are only limited by one's imagination. Used to be called "funny money."

Let me give you an example ....

The savings and loans in the 70's had plenty of loan "assets" on their books.

Do you know the rest of the story?

Put you Banking 101 text book back were it does the best. Paper weight.

Dammit LL, you're gonna make me explain this shit to you, aintcha??? You seem to know a few accounting buzzwords without knowing what they mean. Under GAAP, contingent assets and contingent liabilities are NOT shown on the balance sheet but must be mentioned in a footnote to the financial statements. Still with me? This is because the likelihood of realizing the asset (or incurring the liability) may be highly uncertain and unquantifiable.

Example: If I sue you for $1 million, I can't record that amount as an asset. You don't owe me a dime unless I win in court, and even then the actual amount I am awarded or will ultimately collect may be a lot less. So this is a contingent asset to me and a contingent liability to you.

On the other hand, bank loans are real assets evidenced by contractual legal documents obligating a borrower to make payments. If I lend you $1 million, I can record this amount as an asset and you have to show it as a liability. It's not contingent – you owe it once you sign the loan agreement and receive the loan proceeds. If you go south on me later and stop making payments, I may have to write the loan down (or off) depending on your situation, but it's still not a contingent asset under GAAP rules.

So the S&L crisis in the late '80s (not the '70s) involved real assets, not contingent ones, and I know the whole story, including how Bill Seidman and the Resolution Trust Co. cleaned it up.

Now fuck the accounting lesson and tell me again exactly what “criminal” activity you think JP Morgan Chase is supposed to have engaged in?

.

[JohnnyCap]

Originally Posted by lustylad

Not sure what your experience was in being duped but it seems strange that it would lead you to think the entire "practice of banking" is immoral and that banking/finance is harmful rather than indispensable to a healthy economy. Would you say the entire energy industry is crooked and immoral if Enron cheated you on a transaction?

One of the most quoted lines in Shakespeare's Henry VI is "The first thing we do, let's kill all the lawyers..." He said lawyers, not bankers.

As for Jules Winfield, the banks should hire that "mushroom cloud-layin' motherfucka" to collect from their deadbeat borrowers.

My disdain of banks precedes the recent duping. There was a time I thought more like Alex Keaton, but I have grown wiser.

Shakespeare was not wrong, but I think his priorities were off.

As for your Enron question, I again say this disdain for banks is not from a single transaction, but a thoughtful overview of a system built on transferring all assets to the very few. It will implode.

[I B Hankering]

Originally Posted by ExNYer

Oooh, that's clever.

"I know you are, but what am I?" has been a devastating retort for you ever since 2nd grade, hasn't it, knuckle-dragger?

"What are you", you ignorantly ask? You're an exiled Yankee jackass!

Originally Posted by Old-T

So was chase profiting off the slave trade 15 years ago too? You got caught with yet another stupid comment, and when I brought it to everyone's attention you "conveniently" distort and lie. Typical IB. You don't give a damn about most of what you post, or about truth. You rant away against the hated "liberals" more based upon the label than anything else. And anyone who waves a gun around is a true American hero. Every post you make reinforces why I never want to live in the south again.

Yes, Chase is still profiting off of the profits it made on the slave trade and commerce in slave made products, Old-Twerp! It's called "compound interest," you mentally deficient moron. Noticed how your ignorant ass scurried like a roach caught in the light away from how Chase treated Holocaust survivors in RECENT years, Old-Twerp.

[Old-T]

Originally Posted by I B Hankering

"What are you", you ignorantly ask? You're an exiled Yankee jackass!



Yes, Chase is still profiting off of the profits it made on the slave trade and commerce in slave made products, Old-Twerp! It's called "compound interest," you mentally deficient moron. Noticed how your ignorant ass scurried like a roach caught in the light away from how Chase treated Holocaust survivors in RECENT years, Old-Twerp.

I haven't run from anything. I thought your post was stupid at the time and I still think so.

So now you want to go back and retrieve that compound interest from the early 1800s? Fine their asses for what happened then? Sounds like reparations to me, doesn't it? Are you for reparations? Somehow I doubt it. If you are not, then what is your point here? I know! You are for reparations ONLY IF you get to pillage a NORTHERN company. You are just letting your Northern Envy show through. Another case of a Kentucky hillbilly wishing they had the culture (and cash) of NYC?

I don't know, what IS your point? I would have thought you were all for letting Chase close those accounts for "religious" reasons. Now you are saying if a bakery has an ancestor who profited a dollar from some illegal activity then they would NOT be allowed to claim the "religious bigotry" exemption? Then they WOULD have to sell a wedding cake to a gay wedding couple? Great, so make Chase have to loan money to gays.

Make up your mind: do morals have a place in business or not? How many generations do you still count as "recent" history? How many board members have to be changed before you are willing to grant absolution to the company? Again, other than a gratuitous slap at anything north of the Mason-Dixon line, what was your point?

Just admit it, you have a profound hatred of anyone and anything from NY. You see them as your intellectual and genetic superiors and it galls you no end. You KNOW that it is only because Northeastern brains and business acumen is carrying the slackers of Appalachia and the south that you southerners have ALMOST entered the 20th century. I know you have said your forefathers fought on the union side, but everything you post shouts out that you're a Reb at heart and you won't ever stop your ranting until the south wins the next domestic terrorist event disguised as "states rights". Sorry, ain't gonna happen.
[Fade to Glory Hymn of the Republic]

[I B Hankering]

Originally Posted by Old-T

I haven't run from anything. I thought your post was stupid at the time and I still think so.

So now you want to go back and retrieve that compound interest from the early 1800s? Fine their asses for what happened then? Sounds like reparations to me, doesn't it? Are you for reparations? Somehow I doubt it. If you are not, then what is your point here? I know! You are for reparations ONLY IF you get to pillage a NORTHERN company. You are just letting your Northern Envy show through. Another case of a Kentucky hillbilly wishing they had the culture (and cash) of NYC?

I don't know, what IS your point? I would have thought you were all for letting Chase close those accounts for "religious" reasons. Now you are saying if a bakery has an ancestor who profited a dollar from some illegal activity then they would NOT be allowed to claim the "religious bigotry" exemption? Then they WOULD have to sell a wedding cake to a gay wedding couple? Great, so make Chase have to loan money to gays.

Make up your mind: do morals have a place in business or not? How many generations do you still count as "recent" history? How many board members have to be changed before you are willing to grant absolution to the company? Again, other than a gratuitous slap at anything north of the Mason-Dixon line, what was your point?

Just admit it, you have a profound hatred of anyone and anything from NY. You see them as your intellectual and genetic superiors and it galls you no end. You KNOW that it is only because Northeastern brains and business acumen is carrying the slackers of Appalachia and the south that you southerners have ALMOST entered the 20th century. I know you have said your forefathers fought on the union side, but everything you post shouts out that you're a Reb at heart and you won't ever stop your ranting until the south wins the next domestic terrorist event disguised as "states rights". Sorry, ain't gonna happen.
[Fade to Glory Hymn of the Republic]

FYI, Old Twerp, Chase has been screwing Jewish Holocaust survivors for more than sixty years, and it's been less than one generation since they "claimed" they would amend their ways, Old-Twerp. Also note how you took sentences out of two separate paragraphs in your last attack to purposefully misconstrue what was said, jackass; so, your ignorant deflection served as the platter on which you received your ignorant ass, Old-Twerp.

[LexusLover]

Dammit LL, you're gonna make me explain this shit to you, aintcha??? You seem to know a few accounting buzzwords without knowing what they mean. Under GAAP, contingent assets and contingent liabilities are NOT shown on the balance sheet but must be mentioned in a footnote to the financial statements. Still with me? This is because the likelihood of realizing the asset (or incurring the liability) may be highly uncertain and unquantifiable.

You are the one using "buzzwords" not me. A loan may be called an "assert" for purposes of AN ACCOUNTING SHEET, but in REALITY it is ONLY CONTINGENT ... and will not produce ANY READILY AVAILABLE CASH FOR PAYING A FINE, RESTITUTION, OR DEMANDS BY THE FEDS

Now fuck the accounting lesson and tell me again exactly what “criminal” activity you think JP Morgan Chase is supposed to have engaged in?

It's not what I think ... ask the United States Attorney, who answers to HOLDER.
[/QUOTE]

http://www.justice.gov/usao/nys/pres.../JPMCDPAPR.php

You are out of your league.

[RALPHEY BOY]

I am in the Finance Industry and Chase can do this all day long, however they must never make any exceptions to this Policy, otherwise, yes it would be against the law.

Another example: back in the subprime years a few Lenders would not do loans for people over 65 on a fixed income who claimed 'Stated Income' or non documentable income. Unless they could prove that income as stable and continuing. ( which of course they did not have)

Now is the age discrimination? NO, as long. As long as they do not make any exceptions to this Policy.
I questioned this many times, but their Attorneys assured me it was legal

They did not want the risk of these loans on their books.

[Karl Hungus]

If they don't want the risk of the loans on their books, maybe they should just securitize it and sell it to their Muppet clients.

More troubling to me is how ass-backwards this whole system is. The oldest profession is too risky, but some upstart idea to securitize bad debt gets a AAA rating? It is a sad state of affairs when selling fraudulent securities is viewed as more respectable than catering to men's sexual needs. Folks have been paying good money for pussy since the dawn of time and will continue to do so.

I get it that JPM does not want to incur the consequences of a conspiracy or aiding/abetting charge, but it should never have come to pass that there is a black market for pussy and an open market for fraudulent securities. And in light of all the bad MBS, too big to fail, and other issues visited upon us by unethical banking, I find myself unable to muster much sympathy for JPM's selective compliance efforts.

[Old-T]

Originally Posted by I B Hankering

FYI, Old Twerp, Chase has been screwing Jewish Holocaust survivors for more than sixty years
So, out of curiosity, what would you do to correct this issue? You are the one who believes this activity should have consequences today, so tell me what those consequences should be. I am waiting.

Also note how you took sentences out of two separate paragraphs in your last attack to purposefully misconstrue what was said, jackass; so, your ignorant deflection served as the platter on which you received your ignorant ass, Old-Twerp.
No misconstruing. Just putting together a small sampling of "IB's Greatest Hits".

..

[LexusLover]

Originally Posted by RALPHEY BOY

.... Chase can do this all day long, however they must never make any exceptions to this Policy, otherwise, yes it would be against the law............

Chase is effectively implementing anti-customer policies in order to "save their asses," but having legitimate, loyal customers "fly the coop" is a death wish.

What Chase is actually doing is simply buying time. Their basket of eggs is quickly emptying ... and I wouldn't want all of mine in that basket.

[Guest032516]

Originally Posted by I B Hankering

"What are you", you ignorantly ask? You're an exiled Yankee jackass!

The Cock Whisperer speaketh!

I'll take "exiled Yankee jackass" over "tranny fuckee" any day of the week and twice on Sunday.

[I B Hankering]

Originally Posted by ExNYer

The Cock Whisperer speaketh!

I'll take "exiled Yankee jackass" over "tranny fuckee" any day of the week and twice on Sunday.

It's good that you've resigned yourself to live your cock-sucking life among your *friends* in Texas, you Yankee dude doodling dandy.

Originally Posted by Old-T

So, out of curiosity, what would you do to correct this issue? You are the one who believes this activity should have consequences today, so tell me what those consequences should be. I am waiting. You should have made sure you had toilet paper before you sat down, Old-Twerp.

No misconstruing. Just putting together a small sampling of "IB's Greatest Hits". The "small sampling" your proctologist examined determined you're losing brain matter out your anus, Old-Twerp.

[Old-T]

Originally Posted by I B Hankering

Quote:
Originally Posted by Old-T
So, out of curiosity, what would you do to correct this issue? You are the one who believes this activity should have consequences today, so tell me what those consequences should be. I am waiting. You should have made sure you had toilet paper before you sat down, Old-Twerp.

YOU raise the issue of chase and slavery.

YOU seem to think Chase should be punished for their 150 y/o slave profits

Then YOU refuse to answer what you thing the penalty should be

Typical IB. Nothing I could say would highlight your stupidity more than your own words. Bravo you lying deceitful blithering IBilliterate, bravo. As each stupid post of yours brings you so much closer to your coveted 12,000 threshold we can only hope your meltdown will be so epic that it fries your computer and we don't have to read your pathos for a while thereafter.

57 to go!

[lustylad]

Originally Posted by LexusLover

You are the one using "buzzwords" not me. A loan may be called an "assert" (sic) for purposes of AN ACCOUNTING SHEET, but in REALITY it is ONLY CONTINGENT ... and will not produce ANY READILY AVAILABLE CASH FOR PAYING A FINE, RESTITUTION, OR DEMANDS BY THE FEDS


You are out of your league.

Wrong again, LL... Loans are bought and sold for cash every day. Any bank can make you a loan, then turn around and sell it to someone else. How do you think MBS are created? Do you know what a Treasury bond is? It's a loan to the U.S. Government. Billions of dollars worth are bought and sold for cash in US bond markets every day. Granted, some loans may be easier to sell than others, but nearly all loans can be sold to "produce readily available cash" (as long as the borrower isn't totally bankrupt, in which case the loan can't be sold because it is worthless).

Still think I'm out of my league, LL? Keep trying...