that it was downgrading J.P. Morgan's rating from "satisfactory management" to "needs improvement," or a 3 on a scale of 1 to 5.
The government disapproves of the so-called
"London whale" trading losses in which J.P. Morgan lost $6 billion.
But the losses were minor compared to the $21.3 billion in profits J.P. Morgan posted last year.
The $6 billion in losses represents how much the federal government borrows every two days just to keep going. But since the federal government has no intention of paying back the money, it is a loss covered by printing more money.
This is not a case of the pot calling the kettle black. This is a case of the pot calling the fine
A government that is shoving $16 trillion in debt onto the next generation looks ridiculous when it
disparages the management skills of people who
actually do manage.
n n n
ADD Bluefield to the list of cities in West
Virginia that are tired of waiting for absentee owners to tear down dilapidated structures.
City crews plan to raze 50 structures this year
and another 50 next year. One of the challenges is asbestos. The city is applying for grants to help
cover the cost.
The hope is that someone will develop the empty lots left behind, replacing ramshackle structures that
attract vermin and that be magnets for crime.
A few years ago, the Legislature made it easier for cities to demolish such properties. It's good to see Bluefield take advantage of the opportunity.