Old smokestack. Let me set the scene. Conventional wisdom has been if oil goes higher, its a good day for the market and if oil goes lower, sell, sell, sell. Its a bad one. So, it went down two bucks. Got hammered. We saw the urgency of that formula writ large today because we learned jpmorgan has 44 billion in oil and gas exposure. Thats 44 billion in oil and gas exposure. Kind of like making it the exxon of banking with hopefully exxons discipline. Oddly given the plumeting price of oil, only 15 million in loan loss reserves. Even though 19 billion is loan portfolios. Say firms with junk bond status. Boo. Exploration production companies. The wos f the worst when it comes to who is paying anybody back. Jpmorgan said the Energy Company could cost them. Hey. 20 billion. But to me, having lived tlau low loss sickle i can only say give me a break. Im not buying it. Oil retreats hard here, they could double that number and i wouldnt believe it. Sorry. I didnt like anything about this disc
Of oil, only 15 million in loan loss reserves. Even though 19 billion is loan portfolios. Say firms with junk bond status. Boo. And 39 of it was made to Exploration Production companies. The wos f the worst when it comes to who is paying anybody back. Jpmorgan said the Energy Company could cost them. Hey. 20 billion. But to me, having lived tlau low loss sickle i can only say give me a break. Im not buying it. Oil retreats hard here, they could double that number and i wouldnt believe it. Sorry. I didnt like anything about this discussion. Yeah, reported a little more than a month ago. Why didnt they Say Something then . It was low. Being hopeful. Im not jamie diamond just plunked down 26 mill to buy five shares. Got enough cash. Oil goes much lower from here. Believe me. Buy some even lower. This oil and gas exputs a new swin. Before you freak autoout and say, wow, all under reserve, it is a really big bank. Its got billions and billions of dollars in goods and were not watching the d
Its a bad one. So, it went down two bucks. Got hammered. We saw the urgency of that formula writ large today because we learned jpmorgan has 44 billion in oil and gas exposure. Thats 44 billion in oil and gas exposure. Kind of like making it the exxon of banking with hopefully exxons discipline. Oddly given the plumeting price of oil, only 15 million in loan loss reserves. Even though 19 billion is loan portfolios. Say firms with junk bond status. Boo. And 39 of it was made to Exploration Production companies. The wos f the worst when it comes to who is paying anybody back. Jpmorgan said the Energy Company could cost them. 20 billion. But to me, having lived tlau low loss sickle i can only say give me a break. Im not buying it. Oil retreats hard here, they could double that number and i wouldnt believe it. Sorry. I didnt like anything about this discussion. Yeah, reported a little more than a month ago. Why didnt they Say Something then . Not like oil was flying in january. It was low.
Drivers are being told to avoid the area at constitution avenue because of a fire in the basement of the i. R. S. The Fire Department said the type of the call and that it is a Federal Building prompted the overwhelming response. It can be dangerous. It worked out for the better. Leon constitution avenue is reopened. Investigation in cause of the fire is now underway. No word on the extent of the damage. Keep you posted. Major step in a fight over d. C. Minimum wage. A judge cleared a way to put 15 minimum wage plan on the ballot. Sam ford is live in northwest to explain the new sam i am outside the head of the board of elections. They will move ahead. The measure held up for months because the opponent had said that some of the members of the board stayed past the Expiration Date and that the terms were expired and their decisions were not valid. When the judge rejected that supporters of the 15 minimum wage were cheered. We found a cafe owner very upset. It might put me out of busine
Head throughout the morning. Right now back to you. Breaking news. Raleigh police are combing a scene on glenwood avenue after finding two men dead in a car. Cbs North Carolina reporter Lauren Haviland is there and has more on what happened. Or what has happened so far. Lauren . Reporter they were called here around 12 30 this morning and it was because of a we welfare check. Its still a very active scene. When officers arrived at the panera bread parking lot they found two men dead inside a car. Again in the panera bread parking lot. You can see its still a very active scene. Theres crime tape surrounding the panera bread and part of the comfort inn and suites of glenwood avenue in raleigh. We have not learned much from officers since weve been here but what we have learned is that panera bread might be closed for the rest of the day workers are coming here and rpd is talking to them. Maybe as potential witnesses or maybe getting Surveillance Video. Were hoping to learn much more. I j