Claims, despite the positive numbers this morning, we did get disappointing economic data that shows the u.s. economy expanding at a faster pace in the first quarter, but still missing the 2.6%. and mortgage financing actually slows.
Had these data points come in a little better, perhaps we would have seen a better day.
And it is taking it with a grain of salt, too.
Gdp is a backward indicator and it lags existing home sales by one or two months.
We are down about eight percent since early september.
Mortgage rates were actually at a two-year high.
Still incredibly low, but maybe the fed is saying we will not taper right now.
The only reason the fed did not taper, right gecko low -- did not taper, right?
Sex what else?
-- what else?
We have kind of been through this before in that we saw very low rates contributing to the boom.
Seriously, gary schiller of the case schiller home price index said, yes, i know prices are up -- bob shiller.
Yes, bob shiller.
And gerry schilling, speaking of schilling, has been speaking about this as well.
I have known gary for 40 years.
You know who is also worried?
He was back in washington today meeting with the u.s. attorney general eric holder.
On the agenda, the settlement to end the investigation into the company.
And this price tag blew my mind this morning, potentially $11 billion.
I had to read it four times.
The london whale trade in which they lost $6 billion, they paid a fine of a billion dollars resulting from that.
$11 billion, that is huge.
That is half their revenue from last year.
But if you can step back and say, we will not be in the spotlight anymore, maybe it is worth it.
It is one of several student -- several suits they are facing.
It seems like there are going to be more.
There are going to be more.
What do you think morgan stanley is saying right now?
Everybody is saying, if they come after olden boy jamie dimon, they might come after us.
But not goldman sachs.
They have inside people.
I think you are right, adam.
It is a very good point that the entire industry is in a regulatory hunt right now and it is a bit of a witchhunt.
Jpmorgan specifically for three reasons.
Jamie -- jamie dimon made it eager, personal, and emotional.
For those three reasons, that is why he's in the hot seat.
The other banks not as much.
People were calling for him to split up the role between chairman and ceo and he got so much powerful backing saying that he had control, but it really sounds now he made a mistake.
On wall street, but not in washington.
They got a $500 million slap on the wrist at goldman for fixing the ik be bonds.
As you would expect.
Meanwhile, jpmorgan gets $12 million in fines.
If you are dying to drive a tesla, over $74,000 to own the car outright.
Now you can rent a tesla for just $500 per day at one of two different locations.
Tesla shares hit an all-time high earlier today hitting almost 100 $90. -- $190. maybe for $200 a day.
But $500 a day?
That seems like a lot.
You could rent a camaro at that with 430 horsepower for that much.
They are building out their upper end of the business.
Either the way, hertz was down double digits after cutting their growth forecast.
And you can rent a for ra or a lamborghini for $1500 a day.
-- you can rent a for ari or lamborghini for $1500 a day.
I would expense that.
You can try to expense that.
I am excited to see this movie.
Check it out.
Any kind of booze you might want?
The bureau forbids us to drink.
? you may need to wait a little bit longer to see martin scorsese's wolf of wall street.
It may be delayed until january.
Leonardo dicaprio and matthew mcconaghy fans might need to sit tight for a while, because the film is over three hours long.
I knew there would be films where matthew mcconaghy did not take his shirt off.
They are awesome.
But if it does not come out by december, then they are not eligible for oscars.
That means matthew mcconaghy may once again be robbed of an oscar.
Remember that movie that came out, you know, 12 months.
I'm sure it happens.
Yes, everything they are planning on doing and they have to back that up gecko i say, go with the three hours.
-- to back that up?
I say, go with the three hours.
It has an nc-17 rating.
That is a modern-day rated x. a three-hour, rated x movie.
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