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
70s song into this musical. So theyll be in the middle of talking about something, and then all of a sudden theyll break into a great 70s song. Theyre going to dip in and out of our show. And it just is going to surprise us. You wont even know. You wont be hearing random you will be hearing random 70s songs. I got a little sneak peek at this. I dont ever hang around with celebrities come on. I dont. But there was goldie hawn. I thought we were going to be friends after. Nothing happened. [ laughter ] we have this problem where we hang out with people on the show. Remember olivia munn. I thought we were going to be like that. Olivia munn gave me her phone number and nothing i did it with rebel wilson and nothing. Crowe. Im like cheryl crowe is going to call or email and she didnt. Were always happy to be here on friday. Joy has hit a new high. She does this Popular Series called junk food to joy food. Now there is a cookbook out. And it is flying off the shelves. People, its crazy. You
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. And 39 of it was made to Exploration Production companies. The wos f the worst when it 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 lit
Of oil, only 15 million in loan loss reserves. Even though 19 billion is s an portfolios. Say firms with junk bond status. Boo. And 39 of it was made to Exploration Production companies. The wos f the worst when id comes toho 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 . Not like oil was flying in january. It was low. 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
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 . Not like oil was flying in january. 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. 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 death of oil. If oil stays down, there wont be a lot more to fault, so a lot of banks just taking losses. The house of pain. Not just these three, but theyre all a lot of oil and Gas Companies that can manage t