[tabs]

In a town full of Lepers Mr Dimon was the only one left with all his fingers. Sadly that is no longer true. Mr Dimon is being enumerated handsomely and as such should be able to think through ALL the ramifications of all the decisions he makes. Even larger than the financial risk that JP was taking was the POLITICAL RISK and that was a consideration that Mr Dimon failed to consider. Now from what little one has heard Mr Dimon say, he seems to now be well acquainted with that risk and has made statements that he hopes will ameliorate the political fury into nothing more than sound.


Let one reiterate what one has previously stated.


1. The American people grudgingly went along with the first Bailout, because they were told it was the lessor of two evils. However they do not TRUST the Lepers on Wall Street and if there perchance should occur the need for a second bailout the tar and feathers will be followed by a public lynching.


2. There will be NO SECOND BAILOUT of Wall Street. With the current debt levels the United States, Europe and Japan are running any further bailout would sink the system. In other words there ain't no more money to give, print nor borrow.



There is a popular notion that the United States if it should continue on the unsustainable path it has chosen will turn into a Greece. Reality suggests that the United States already has turned into a Greece with a printing press. For the unalterable truth is that the Federal Reserve now buys 61% (WSJ) of American Treasury Bonds. The rest presumably are being bought by foreigners who are pursuing an ON THE BEACH STRATEDGY because they are deathly afraid of their own nations insolvency and are opting for that last safe haven that the United States represents.