Friday, June 21, 2013

Banks: What are they good for?

JP Morgan © fintag

News comments:
When you get too much regulation, unforeseen consequences happen.

The banks are slowly being strangled and those who are left are squeezing out as much as they can before the banks end up not doing anything at all except sit on legacy IT systems and store unwanted bloomberg terminals. Having followed the digital currency rise of bitcoins and the US trying to hound out the exchanges and scare users into believing they are money launderers (wired), in the real world we have hedge funds now becoming banks.

Hedgies are all about risk management and having ripped apart the world of insurance, its now over to 2% a month please loan notes. Not only are they faster and better than they banks, they actually do lend out. No wonder Highbridge just raised USD3 billion to lend out. A clever way for JP Morgan to gain fees that have nothing to do with lending. You have to applaud them. (wsj)

Today's shorts:
Fintag random punt strategy (fintag)

Regulators want banks to hold more capital (bloomberg)

Today's longs:
Swiss help fund UK debt (reuters)

Gossip:
JP Morgan and other too big banks to fail to be bailed out by hedge funds next time round.



29 comments:

Elizabeth J. Neal said...

Charlotte-area companies are investing more financial capital into their businesses than in previous years, he said, adding that businesses are also more confident about cash flows.

Naomi Watson said...

Nowadays you can lend from banks and apparently from the hedgies! Still I believe that online lending option has more fans than conventional banking and especially landing from hedge funds.

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Those who work in banks have a lot of power and possibilities. And as a result they can make huge money, however sometimes their actions are not too legal and do not always make the situation better. Many ordinary people today have no possibility to get monetary help from any bank, because the credit history is demanded everywhere. In such cases they choose pay day loans direct lenders and solve their financial problems. And the government can make different statement according their illegality, however they also benefit from such financial unions.

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