Dimon's whining

What is Jamie Dimon thinking? As reported in a New York Times article, Mr. Dimon wrote a note to shareholders expressing his displeasure at the way politicians were demonizing big banks.

Now, the bank seems to be very well run. They also seemed to be in the least amount of trouble during the crisis. They didn't need the stimulus and paid it back as soon as possible. These are all positive aspects to JP Morgan Chase's business.

But to whine about politicians who represent the people is not a smart move. I don't remember seeing a thank you note to the government for guaranteeing his bank's purchase of Bear Stearns. This note in the letter to investors makes him look even more detached from what is going on in this country than previously thought. This note makes him look ungrateful to the public for bailing out the industry he is at the highest level of. It could even be considered similar to a let them eat cake comment.

Where Mr. Dimon should whine is Wall Street. To allow other banks to act so irresponsible without any public comments showed a lack of leadership from Mr. Dimon. Why isn't he whining about the banks that caused this mess and put the hurt on the American people. Why isn't he wondering out loud about how much money they caused his bank to lose?

If he really wants to step up to make his business better, he should be cheering for a higher standard of banking which includes better regulation. Looking to blame the politicians when the problem is your colleagues is weak at best. Mr. Dimon needs to be reminded who really caused the mess and who saved his livelyhood.

Bank of America...literally

Hey

It was recently reported in a story from Bloomberg Magazine that Blackrock has been given a lot of the management contracts for the bank bailout.

The conspiricy theorist in me wonders whether this was because of the fact that Bank of America took on Merrill Lynch. I would have thought that JP Morgan or Goldman Sachs would have been a better fit.

Anyway, I think this is a positive area of revenue and profits overall for Bank of America as they figure out the Merrill Lynch mess.

Dislosure - I do not own any of the stocks mentioned in this story at this time.

Solid Companies with Green actions

Hey



I have been thinking about the boon in "green" investments. I am going to be looking for companies that have solid business models while still finding ways to cut energy output and increase conservation.



This is one of the reasons I have chosen to invest in Pepsi. They are extremely innovative within the beverage/food sector. They have recently decided to purchase over 1 billion dollars worth of energy credits over the next three years.

My next stock purchase (at the end of the summer) will probably be either Goldman Sachs or JP Morgan. Both financial institutions are at the top of their game when it comes to their business model. But both companies are also taking large smart steps towards assisting energy usage and conservation.

You can find more detailed information at www.gs.com and www.jpmorgan.com or by going to yahoo finance (link in side bar).

The Wikiwealth portfolio consists of the following:
Pepsi Stock (www.pepsi.com)
Checkpoint June 25 Call (www.checkpoint.com)
Sharebuilder Money Market (www.sharebuilder.com)
Optionsxpress Money Market (www.optionsxpress.com)