Recession Busting; The JP Morgan Way!

Recent news posted stating that JP Morgan was hiring 1200 loan officers at locations all across the nation. In case you did not know who they are, they are the Wall Street bankers who acquired WAMU to get out from under several billion dollars worth of tax money they owe to the government. Does that jog your memory? Pretty sure it helped out.

JP Morgan also purchases the fallen Wall Street foe, Bear Stearns, after Bear was rejected for bailout fund by former Goldman Sachs head Ben Bernanke and his crony, Hank Paulson.

JP’s main strategy states that the new loan officers will be strategically placed across the nation and will work from local loan hubs and banks. The part that escapes me is the rationale behind hiring at the point in the economy. The reasoning that JP Morgan has provided for the hiring is to be in the best position to offer the highest quality of service to people who may want home loans when the real estate market improves. That is not a verbatim quote, but it does convey the point.

My question is what do they know that we are not hearing from the media? They are hiring when it seems every other business is laying people off? To many of us, there is no logic in this decision, with the possible exception of them knowing more than all of us.

To get to the heart of the matter, I will make my main point. With more money on their minds, JP Morgan and Goldman Sachs, among other banks, have been delaying or ceasing funding for real estate purchases to stimulate a market sensation in home buyers and sellers.

Given that these kinds of illogical moves are typically seen when the CEO of a company dumps his stock the day before the company goes public with some bad report, we may be seeing the end of a suppressed real estate market very soon!

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