From Bloomberg: JPMorgan Says SIVs Will `Go the Way of the Dinosaur'.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said structured investment vehicles, whose assets have dwindled by at least $75 billion since July, will ``go the way of the dinosaur.''
``SIVs don't have a business purpose,'' Dimon told a conference hosted by Merrill Lynch & Co. in New York today.
Sure they do.
They're a mechanism for evading capital requirements hence allowing much larger leverage than is legal.
And what's so radical about SIV's anyway? All they do is borrow short, and lend long taken to an absurd extreme. That's like Banking 101 -- the stuff they teach undergraduates on the first day of class.
What are you, retarded?
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