Recession Busting; The JP Morgan Way!
3:34 AM
News broke just today that JP Morgan will be hiring 1200 mortgage officers across the U.S. For those of you who are not familiar with who they are, when the recession really started to hit hard JP Morgan was the bank who purchased Washington Mutual and offset several billion dollars of its own tax liability in the purchase.
Also on their procurement list was fellow Wall Street bank, Bear Stearns, who was denied a bailout by Goldman Sachs Fed Reserve Head, Ben Bernanke and buddy Hank Paulson.
The logic behind the hiring of these loan officers is the mystifying part of the deal. JP Morgan is claiming to be hiring the loan officers in anticipation of when the real estate market turns around so they can most efficiently serve home loan applicants. Strategically positioning these loan officers all across the nation, JP Morgan apparently thinks that the real estate market is about to rebound.
Where are they getting their signals from? The media has only projected more doom and gloom so they must be privy to information that is much more optimistic than what most of us are reading or hearing. With bailout money in their pockets they must be priming the pump for their next big business leap.
With everything revealed, I think it will be profoundly obvious that JP Morgan, and the only other remaining Wall Street bank, Goldman Sachs, have been working diligently to establish themselves as the exclusive source of credit, before turning back on the spigots of credit.
They are putting in a place the mechanism to make the real estate recovery emerge suddenly and lift many homeowners out of what would otherwise be a hopeless situation. My question is are you a hero if you present the cure for the disease you have caused?
Also on their procurement list was fellow Wall Street bank, Bear Stearns, who was denied a bailout by Goldman Sachs Fed Reserve Head, Ben Bernanke and buddy Hank Paulson.
The logic behind the hiring of these loan officers is the mystifying part of the deal. JP Morgan is claiming to be hiring the loan officers in anticipation of when the real estate market turns around so they can most efficiently serve home loan applicants. Strategically positioning these loan officers all across the nation, JP Morgan apparently thinks that the real estate market is about to rebound.
Where are they getting their signals from? The media has only projected more doom and gloom so they must be privy to information that is much more optimistic than what most of us are reading or hearing. With bailout money in their pockets they must be priming the pump for their next big business leap.
With everything revealed, I think it will be profoundly obvious that JP Morgan, and the only other remaining Wall Street bank, Goldman Sachs, have been working diligently to establish themselves as the exclusive source of credit, before turning back on the spigots of credit.
They are putting in a place the mechanism to make the real estate recovery emerge suddenly and lift many homeowners out of what would otherwise be a hopeless situation. My question is are you a hero if you present the cure for the disease you have caused?
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