21–30 of 213 posts
They are on their way to become a new credit suisse, hopefully this helps to change that course.
If you are interested in this subject, compare it to other big banks like JPMorgan Chase, Bank of America etc. The difference is abysmal.
Disaster long in the making. The worst performing big bank of the last decade. Stock still ~90% below its 2007 peak, and been flat for last 10 years.
> Disaster long in the making 16 years ago I told them that making me whole wasn't enough - since they called me a liar in writing they needed to provide an apology in writing. And I wouldn't do business with them until that happened. Still waiting, and still not doing business with them.
I have been boycotting PNC bank since 2006. They stole over $700 from me. They gave me $300 back to settle. I refuse to do business with them. I went to a Pirates game, saw it was PNC Park and noped out of there.
Their market cap has since doubled. Fucking over the little person is OK in our society.
Disaster long in the making. The worst performing big bank of the last decade. Stock still ~90% below its 2007 peak, and been flat for last 10 years.
In America. The gap between JPM and Citi is incredible. Part of JPM's success is that it has basically been deemed "America's Bank" by the government, but the mismanagement at Citi is tangible too.
Earlier quoted context omitted.
> Disaster long in the making 16 years ago I told them that making me whole wasn't enough - since they called me a liar in writing they needed to provide an apology in writing. And I wouldn't do business with them until that happened. Still waiting, and still not doing business with them.
Don’t know if you are actively avoiding Citi, but this tone rings a bell. I have been boycotting PNC bank since 2006. They stole over $700 from me. They gave me $300 back to settle. I refuse to do business with them. I went to a Pirates game, saw it was PNC Park and noped out of there. Their market cap has since doubled. Fucking over the little person is OK in our society.
Not only OK, but it seems like it is the only business plan that succeeds.
Interesting that in beginning of January a lot of the job cuts are being announced, I'm sure decisions were made previous months. Is it because of the time to recover for potential backslash in the quartarely reports or any other reason?
Interesting that in beginning of January a lot of the job cuts are being announced, I'm sure decisions were made previous months. Is it because of the time to recover for potential backslash in the quartarely reports or any other reason?
Disaster long in the making. The worst performing big bank of the last decade. Stock still ~90% below its 2007 peak, and been flat for last 10 years.
In America. The gap between JPM and Citi is incredible. Part of JPM's success is that it has basically been deemed "America's Bank" by the government, but the mismanagement at Citi is tangible too.
Earlier quoted context omitted.
In America. The gap between JPM and Citi is incredible. Part of JPM's success is that it has basically been deemed "America's Bank" by the government, but the mismanagement at Citi is tangible too.
I worked at JPM in investment banking. At least on the IBank side, it was an incredibly well run company. I’m not gonna say there’s no bureaucracy there, but for a company with 200k+ employees it ran very efficiently. And they have always been relatively conservative, not taking on the riskiest bets that some of their peers did, which puts them into a very strong position to take advantage of downturns.
They generally don't pay terribly well for non-revenue generating roles, for a broad definition of "non-revenue generating". I have had rounds of interviews with them over the years where they put me through a bunch of rounds, feel me out, and realize that actually.. they can't really afford me.
I know people who take a job there and JPM nickel & dimes you on the way in, lies about target bonus not being prorated first year, and then also gives 0 raise first year. Cute stuff like "forgetting" to pay starting bonuses for months, etc.
I've heard YoY raises that are some of the worst in the industry. To the point that leaving for a competitor is an easy 50%-100% increase in TC because of 5-10 years of surpassed raises.
Another example, in 2020 when COVID hit they did some wide ranging bonus cuts to offset increases in loan reserves for expected credit losses during the pandemic. As all the stimulus kicked in and the economy started to rip, the credit losses didn't come to pass, so they subsequently paid out a fraction of the money they withheld earlier.
Those pennies add up for JPM.