JP Morgan Goes Against The Grain To Hire!
Apparently JP Morgan is hearing a different news report than most of the nation, as it recently announced plans to hire about 1200 loan officers across the nation. JP Morgan should be a familiar name to you since they are the Wall Street bank who used taxpayer dollars to acquire Washington Mutual for pennies on the dollar when the real estate market started crashing. Remember them now? Pretty sure it helped out.
JP Morgan also purchases the fallen Wall Street foe, Bear Stearns, after Bear was rejected for bailout fund by former Goldman Sachs head Ben Bernanke and his crony, Hank Paulson.
JP's main strategy states that the new loan officers will be strategically placed across the nation and will work from local loan hubs and banks. The part that escapes me is the rationale behind hiring at the point in the economy. The reasoning that JP Morgan has provided for the hiring is to be in the best position to offer the highest quality of service to people who may want home loans when the real estate market improves. That is not a verbatim quote, but it does convey the point.
All of this leads you to ask exactly what are they seeing that so many other are apparently not seeing? They are hiring when it seems every other business is laying people off? For the majority of people, this is illogical, unless they know more than everybody else somehow.
To get to the heart of the matter, I will make my main point. The largest banks in the U.S., including JP Morgan and Goldman Sachs, have been deliberately holding back on funding to create a sense of urgency on the real estate market for buyers and sellers.
Given that these kinds of illogical moves are typically seen when the CEO of a company dumps his stock the day before the company goes public with some bad report, we may be seeing the end of a suppressed real estate market very soon! - 23305
JP Morgan also purchases the fallen Wall Street foe, Bear Stearns, after Bear was rejected for bailout fund by former Goldman Sachs head Ben Bernanke and his crony, Hank Paulson.
JP's main strategy states that the new loan officers will be strategically placed across the nation and will work from local loan hubs and banks. The part that escapes me is the rationale behind hiring at the point in the economy. The reasoning that JP Morgan has provided for the hiring is to be in the best position to offer the highest quality of service to people who may want home loans when the real estate market improves. That is not a verbatim quote, but it does convey the point.
All of this leads you to ask exactly what are they seeing that so many other are apparently not seeing? They are hiring when it seems every other business is laying people off? For the majority of people, this is illogical, unless they know more than everybody else somehow.
To get to the heart of the matter, I will make my main point. The largest banks in the U.S., including JP Morgan and Goldman Sachs, have been deliberately holding back on funding to create a sense of urgency on the real estate market for buyers and sellers.
Given that these kinds of illogical moves are typically seen when the CEO of a company dumps his stock the day before the company goes public with some bad report, we may be seeing the end of a suppressed real estate market very soon! - 23305
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posted by Mr. Forex at
2:53 AM
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