Posted in February 2012

The Boom, the Bust, and the Rate of Interest

Generations of Americans have been persuaded to believe America’s economy has been running amok for too long.  They’ve been told that capitalism failed and the powerful booms and busts are the result of the unrestrained wild market.  Ask just about any banker what causes changes in the interest rates and I’m not sure you’ll find … Continue reading

Proof that Wholesale Lending is Cheaper: JPM

By Paul Muolo Who says retail lending is more expensive than wholesale production?  Well, actually, JPMorgan Chase does. In its new earnings statement JPM notes that it spent an additional $82 million in 4Q (compared to 3Q) due to higher residential production costs: increased retail expenses and “enhanced” loan underwriting. JPM has been out of … Continue reading