JP Morgan F*cks You, Again

I haven't posted in a while. Honestly, I get bored with stuff sometimes. Also, I really just started writing this crap to establish a web presence and learn a lot more about online marketing and advertising. That goal was accomplished, but sometimes I read some news that brings me to the edge of explosive rage - the only remedy for which is murdering everyone... just kidding, blogging.

So anyways, I'll keep this simple. Today, JP Morgan, a taker of $25 Billion TARP dollars and possibly one of the most risky banks out there (even though no one will tell you that... they have one of the ugliest mortgage portfolios out there, hold the most CDSs and other securitized crap, and also one of the biggest credit card portfolios... actually, probably the biggest now that they have WaMu's Providian portfolio... yucky).... Where was I?

Oh wait, I know, today they declared their quarterly dividend... a whopping 38 cents per share. That is the same amount they gave last quarter, and the quarter before that, and the quarter before that. It's like there's nothing wrong at all, eh?... Nice!!

This represents a current yield of 4.5%, paying more than any CD, T-Bill, high-interest savings account you could otherwise get. Oh, and with almost 4 billion shares outstanding, that's over $5 billion in cash dividend payouts to shareholders this year... funded by you. And you thought you were being frugal for Christmas this year?... Ho, Ho, Ho!!