Recession Busting; The JP Morgan Approach!

By Gavin J. King

Apparently JP Morgan is hearing a different news report than most of the nation, as it recently announced plans to hire about 1200 loan officers 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? I thought it might.

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 confusing part is the reasoning for the hiring decision. The explanation states that they can render the best service to people seeking home loans and be best positioned for when the real estate market does in fact turn around. They didn't use those exact words, but it does communicate 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? For the majority of people, this is illogical, unless they know more than everybody else somehow.

Since I have no choice, I now have to make my succinct 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! - 23208

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