“We will build this business,” a visibly restrained J.P....Dimon, 55, said in an interview on CNBC. “And I guarantee you in five years the stock will be higher than today.” The New York based CEO of J.P. Morgan , arguably the world's most powerful banker, lost 5.08 million in personal wealth aftter the shares of the Wall Street Bank crashed last week from $40.45 to $34.37, a 15% drop over the weekend .
That is an incredible statement from the CEO of the world's top asset rich company that boasts of assets several times that of Exxon or Mobil.
The loss of Dimon paled in the front of the $52 million loss of .Lloyd C. Blankfein, chairman and chief executive officer of Goldman Sachs Group Inc. (GS), which was more than the combined losses of four other Wall Street CEOs of CitiBank, Bank Of America J.P. Morgan and Morgan Stanley. Together the top 5 Wall street CEO's lost $94 million in personal wealth after Apri 2011 ever since the new financial regulations came to fore .
The Banks despite a preferential treatment and bailout by the Obama Government and rip-roaring profits in 2010 are once again getting into slow growth era. Hence the clamor for a third round of Quantitative easing by the Federal Reserve after $2.3 trillion disbursement in the TARP and QE2 It seems that they have become so used to artificial respiration that they are unable to live a natural existence
The Banks despite a preferential treatment and bailout by the Obama Government and rip-roaring profits in 2010 are once again getting into slow growth era. Hence the clamor for a third round of Quantitative easing by the Federal Reserve after $2.3 trillion disbursement in the TARP and QE2 It seems that they have become so used to artificial respiration that they are unable to live a natural existence
No comments:
Post a Comment