A HONEST BANKER (REALLY!)

Most of the MOTU are in denial about their responsibility for the destruction of $4 trillion of capital.

‘Grimmest’ Davos Ever Brings Anger, Finger-Pointing at Bankers
By James Hertling and Simon Kennedy
Feb. 2 (Bloomberg) -


‘Stupid Things’

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon was the only U.S. banking chief who showed up. He made a concession to the mood of this year’s event by accepting some blame for the collapse that has led to more than $1 trillion of writedowns. He deflected the rest at regulators.

“God knows, some really stupid things were done by American banks and by American investment banks,” Dimon said. “To policy makers, I say: ‘Where were they?’”

In case you have doubts about how much money the MOTU made while they were working hard to inflate the Housing Bubble, here's how just people at just 5 firms made out:

Obama Orders Pay Limits at Banks Getting Future Aid (Update4)
By Roger Runningen and Hans Nichols
Feb. 4 (Bloomberg) --

Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos. awarded their employees a cumulative $145 billion in bonuses from 2003 through 2007, according to estimates based on company reports.