J.P. MORGAN SHAREHOLDER LETTER-NO OPUS DEI

Here is JP Morgan Chase's Annual Letter to Shareholders. Want to know why this letter is not getting the "Opus Dei" mark over treatment we gave Goldman Squid's self congratulatory cephalopodic verbal secretions? Three reasons, actually more, but here are three for the sake of brevity.

REASON 1: While I do not believe JPM is guilt free when it comes to Wall Street shennaniganery, so far there is no indication that their pre-crisis foolishness came anywhere near the klepto-capitalistic hooligan toolery championed by the cephalopods. There is no AIG, no shadow bailout. They made a good deal on Bear Stearns (poor Timmy).  There is a reasonable argument that they really would have survived without TARP.

REASON 2: Instead of telling us they are pro-regulatory champions (like the disingenuous Squids did in Opus Dei), JPM tell us what they agree with and what they find objectionable.

REASON 3: The letter includes yet another apology for their mistakes and untoward capitalist behavior. As we all know Squids don't make mistakes, they do what is best in the name of "client service" (the Squids being their own best clients). Make no mistakes, make no apologies. Godd night Squids.

Oh, almost forgot, Jamie Dimon plays a Fender.

JPM SH Letter