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Recession Busting; The JP Morgan Way!

JP Morgan apparently is expecting the U.S. economy to turn around fairly soon, because they are in the process of hiring several hundred mortgage officers from all across the country. If you do not quite recall who JP Morgan is, they are the wall street bank who made national and global news by offsetting over 5 billion dollar in their own corporate tax by purchasing then flagging Washington Mutual in one of the largest bank take overs in history.

Offsetting further tax liability, they also purchased Bear Stearns when their outlook began to sour and bankruptcy looked eminent for them. Bear Stearns was denied a bailout by former Goldman Sachs head Ben Bernanke, otherwise they may have received TARP money as well.

JP Morgan states that many of the mortgage officers that they are hiring will be stationed and loan centers all across the United States. What baffles me is their logic for the hiring trend. They are reported to have claimed that they want to be able to most dutifully service and serve home loan seekers when the real estate market does turn around. That is not an exact quote but you get the idea.

Is JP Morgan getting signals from somewhere other than the media, because all of the news here lately would indicate it is no time to hire new loan officers, no matter how big your bank is. With pink slips as common as pin striped suits, JP Morgan looks as if they are paddling upstream.

I will stop beating around the bush and just make my point. JP Morgan and Goldman Sachs have both been waiting to start lending again to maximize their own profits at the expense of the American consumer and home buyers and sellers expense.

They are putting in a place the mechanism to make the real estate recovery emerge suddenly and lift many homeowners out of what would otherwise be a hopeless situation. My question is are you a hero if you present the cure for the disease you have caused?

The author enjoy writing articles on Boise Idaho real estate & Boise Idaho homes. Click on the links above to learn more! Grab a totally unique version of this article from the Uber Article Directory