JPMorgan Chase CEO: Recession Just Beginning
Posted May 15th, 2008 by lastmovement
output
NEW YORK -- JPMorgan Chase & Co.'s chief executive said Monday that while the crisis in the credit markets appears to be three-quarters over, he believes a U.S. recession is just beginning.
"Even if the capital markets crisis resolves, it does not mean that this country will not go into a bad recession," said CEO James Dimon, whose bank saw its first-quarter profit fall by half due to the recent collapse of the U.S. mortgage market. "The recession just started."
"We don't know if it's going to be mild or severe," he continued, speaking at a conference in New York hosted by Swiss bank UBS AG. "We're thinking there's a third of a chance that it's going to be pretty bad ... closer to the 1982 recession than the very mild recessions we had in 2001 and 1990."
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What? That's not what they
What? That's not what they told me on CNBC, so it can't be true! I mean, if the mainstream media isn't saying it, it's all just a "conspiracy theory" after all, like those kooks who blah blah blah about the Constitution. Well, back to "Dancing with the Stars".
Don't listen to him akak.
You know gosh-darn well there's no recession.
The post should be flagged.
___________
Lisa C.
http://www.women4ronpaul....
Yeah, really! Don't they
Yeah, really! Don't they know that Wizard Ben can just wave his magic wand and make instant wealth for every American? Don't they TRUST our wise and benevolent government completely? What, are they TRAITORS?
I must return to my 27-inch plasma oracle and seek further advice in countering the lies of these evildoers!
Are we the only ones here?
Echo.........
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Lisa C.
http://www.women4ronpaul....
Im here too!
Im here too!