JP Morgan Goes Against The Grain To Hire!
With defaults on the rise JP Morgan is apparently hearing the beat of a different drummer, as illustrated by their recent announcement that they will be hiring over 1100 new loan officers this year. Just in case you missed it, JP Morgan is the Wall Street bank who purchased home loan behemoth Washington Mutual for a fraction of their worth, when the real estate market collapsed, with tax payers money, of course. 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.
All of this leads you to ask exactly what are they seeing that so many other are apparently not seeing? They are hiring when it seems every other business is laying people off? That does not make any sense to me, unless they know something not many other people do.
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.
You frequently see these kinds of confusing moves when an accounting department is trying to hide something that they don't want divulged, but this action may signal a turn around for our national real estate market! - 23199
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.
All of this leads you to ask exactly what are they seeing that so many other are apparently not seeing? They are hiring when it seems every other business is laying people off? That does not make any sense to me, unless they know something not many other people do.
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.
You frequently see these kinds of confusing moves when an accounting department is trying to hide something that they don't want divulged, but this action may signal a turn around for our national real estate market! - 23199
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posted by X - Men @ 3:42 AM
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