1 00:00:00,040 --> 00:00:03,600 Speaker 1: An illegal alien from Guatemala charged with raping a child 2 00:00:03,680 --> 00:00:07,480 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 3 00:00:07,720 --> 00:00:11,840 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 4 00:00:11,920 --> 00:00:15,840 Speaker 1: filming and selling child pornography in Michigan. These are just 5 00:00:15,920 --> 00:00:19,680 Speaker 1: some of the heinous migrant criminals caught because of President 6 00:00:19,720 --> 00:00:23,320 Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States 7 00:00:23,320 --> 00:00:28,120 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 8 00:00:28,160 --> 00:00:31,680 Speaker 1: crossings are at the lowest levels ever recorded, and over 9 00:00:31,760 --> 00:00:34,960 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 10 00:00:35,040 --> 00:00:38,920 Speaker 1: are here illegally, your next you will be fined nearly 11 00:00:39,000 --> 00:00:43,000 Speaker 1: one thousand dollars a day, imprisoned, and deported. You will 12 00:00:43,040 --> 00:00:46,680 Speaker 1: never return. But if you register using our CBP home 13 00:00:46,720 --> 00:00:50,120 Speaker 1: app and leave now, you could be allowed to return legally. 14 00:00:50,479 --> 00:00:55,240 Speaker 1: Do what's right. Leave now. Under President Trump, America's laws, 15 00:00:55,400 --> 00:00:57,840 Speaker 1: border and families will be protected. 16 00:00:57,920 --> 00:01:00,000 Speaker 2: Sponsored by the United States Department of Homeland Security. 17 00:01:00,160 --> 00:01:03,360 Speaker 3: So Jamie Dimonds so one million shares of JP Morgan 18 00:01:04,120 --> 00:01:08,560 Speaker 3: shares worth of one hundred and forty one billion million dollars. 19 00:01:08,959 --> 00:01:12,640 Speaker 3: Should this be a concern for the entire banking sector 20 00:01:13,440 --> 00:01:17,480 Speaker 3: or the stock of JP Morgan, or is this something 21 00:01:17,520 --> 00:01:22,880 Speaker 3: that's just regular, nothing to really be too concerned about. 22 00:01:25,520 --> 00:01:27,959 Speaker 4: For me, I have to say shout out to everyone 23 00:01:27,959 --> 00:01:30,760 Speaker 4: at JP Morgan, love you dearly. No need to have 24 00:01:30,800 --> 00:01:34,520 Speaker 4: a meeting about this, But I do believe he's definitely 25 00:01:34,560 --> 00:01:37,000 Speaker 4: earned this. He's probably the best CEO in that space. 26 00:01:37,600 --> 00:01:40,240 Speaker 4: But that if you look at that golden parachute number 27 00:01:40,240 --> 00:01:43,520 Speaker 4: that we keep talking about, if he's going to cash 28 00:01:43,560 --> 00:01:47,760 Speaker 4: out relatively soon, maybe he'll retire in five years. I 29 00:01:47,800 --> 00:01:51,160 Speaker 4: don't know who succeeds him at JP Morgan, And when 30 00:01:51,160 --> 00:01:53,360 Speaker 4: I look at the overall landscape, I don't see any 31 00:01:53,440 --> 00:01:57,520 Speaker 4: other great banking executives. At one point, financial services and 32 00:01:57,560 --> 00:02:00,320 Speaker 4: banking had a ton of amazing CEOs. I think Brian 33 00:02:00,360 --> 00:02:03,320 Speaker 4: Wannihan is good, but I think he isn't as great 34 00:02:03,400 --> 00:02:06,920 Speaker 4: as Jamie. I couldn't tell you five out the CEOs 35 00:02:06,960 --> 00:02:08,800 Speaker 4: that are incredible, So it's kind of like the end 36 00:02:08,800 --> 00:02:11,359 Speaker 4: of the era. This will make me a lot more 37 00:02:11,400 --> 00:02:14,480 Speaker 4: concern in the banking industry overall. Of course, he's earned it. 38 00:02:14,560 --> 00:02:16,720 Speaker 4: I think he's been the best of breed when it 39 00:02:16,760 --> 00:02:19,680 Speaker 4: comes to banking. But when the best player leaves and 40 00:02:19,760 --> 00:02:23,840 Speaker 4: you don't have a Steph Curry of banking a zion. 41 00:02:24,880 --> 00:02:25,400 Speaker 5: It's tough. 42 00:02:25,560 --> 00:02:29,440 Speaker 4: Meanwhile, all of the smaller banks have been collapsing and 43 00:02:29,520 --> 00:02:33,000 Speaker 4: been acquired. I think he is exiting at the right 44 00:02:33,040 --> 00:02:36,040 Speaker 4: time when the world is in turmoil. But please keep 45 00:02:36,040 --> 00:02:39,840 Speaker 4: your eye on how many CEOs are leaving or taking 46 00:02:39,880 --> 00:02:42,239 Speaker 4: grand compensation packages at this time. 47 00:02:42,680 --> 00:02:43,880 Speaker 5: I would definitely be concerned. 48 00:02:44,400 --> 00:02:47,600 Speaker 6: This feels like twenty twenty one when we were talking 49 00:02:47,600 --> 00:02:50,800 Speaker 6: about CEO selling shares of that company. We saw Yea 50 00:02:50,919 --> 00:02:53,600 Speaker 6: and we saw Tim Cook do it, and we saw 51 00:02:53,919 --> 00:02:56,679 Speaker 6: what relatively would happened six months after when there was 52 00:02:56,680 --> 00:02:57,560 Speaker 6: a pullback in tech. 53 00:02:58,160 --> 00:03:00,880 Speaker 2: I think the timing of it that makes sense for him. 54 00:03:01,480 --> 00:03:01,840 Speaker 2: I would. 55 00:03:02,120 --> 00:03:05,040 Speaker 6: I'm not sure if I'm too concerned with JP stock 56 00:03:05,160 --> 00:03:08,359 Speaker 6: in a sense that last quota. You know, they reported 57 00:03:08,440 --> 00:03:11,040 Speaker 6: an increased in thirty five percent, and you just brought 58 00:03:11,080 --> 00:03:14,720 Speaker 6: up the Boks, you broughtup the small banks closing, but 59 00:03:14,720 --> 00:03:20,280 Speaker 6: guess who was acquiring their customers? Yeah, and so I didn't. 60 00:03:20,280 --> 00:03:22,720 Speaker 6: I don't take too much concern with it. If you 61 00:03:22,760 --> 00:03:24,600 Speaker 6: look over the history. He took over in two thousand 62 00:03:24,600 --> 00:03:27,000 Speaker 6: and six, so for about eighteen years. This is the 63 00:03:27,000 --> 00:03:30,040 Speaker 6: first time ever that he's ever sold stock, and so 64 00:03:30,080 --> 00:03:32,080 Speaker 6: that might sound like something that's alarming, but when you 65 00:03:32,080 --> 00:03:33,679 Speaker 6: look at the history, you can actually and this is 66 00:03:33,720 --> 00:03:35,680 Speaker 6: why doing the research is important, when you go to 67 00:03:36,200 --> 00:03:39,800 Speaker 6: the analytics and you look at it. This episode is 68 00:03:39,800 --> 00:03:41,840 Speaker 6: brought to you by P and C Bank. 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So I'm not sure that what it 104 00:05:42,720 --> 00:05:45,440 Speaker 6: means to JP stock, what it means for the overall 105 00:05:45,440 --> 00:05:48,920 Speaker 6: banking sector, it's cause for concern. We'll see if there's 106 00:05:48,960 --> 00:05:51,680 Speaker 6: more to see more CEOs who follow that trend of 107 00:05:52,200 --> 00:05:54,000 Speaker 6: selling shares, because, like I said, we've seen this happen 108 00:05:54,000 --> 00:05:56,600 Speaker 6: in twenty twenty one inside of the text space financial 109 00:05:56,640 --> 00:05:59,560 Speaker 6: services and banking. If we start seeing that trend, that 110 00:05:59,680 --> 00:06:01,760 Speaker 6: proper belie gives us a sign that there's going to 111 00:06:01,800 --> 00:06:04,839 Speaker 6: be some turmoil, maybe some downturn in that sector. 112 00:06:04,920 --> 00:06:07,000 Speaker 2: So I would watch it for that standpoint. 113 00:06:07,640 --> 00:06:08,320 Speaker 5: Yeah, I agree. 114 00:06:08,480 --> 00:06:10,400 Speaker 4: In the hands down number one bank, I think he's 115 00:06:10,440 --> 00:06:12,000 Speaker 4: the number one executive in banking. 116 00:06:13,520 --> 00:06:14,719 Speaker 5: The stock could be fine. 117 00:06:15,160 --> 00:06:17,680 Speaker 4: I am worried about the overall banking sector though, especially 118 00:06:17,760 --> 00:06:20,720 Speaker 4: with inflation going up and there's no amazing leadership. Even 119 00:06:20,720 --> 00:06:23,240 Speaker 4: if we ask everyone in the audience, tonight made me 120 00:06:23,279 --> 00:06:26,520 Speaker 4: five other incredible banking CEOs. 121 00:06:26,920 --> 00:06:29,599 Speaker 5: It's going to be tough. It's going to be very tough. 122 00:06:29,800 --> 00:06:33,359 Speaker 4: So but he definitely deserves us if anyone deserves this 123 00:06:33,400 --> 00:06:37,240 Speaker 4: compensation him and you can argue he's underpaid. 124 00:06:37,880 --> 00:06:39,440 Speaker 6: Yeah, look at the numbers. The stats are on the 125 00:06:39,440 --> 00:06:41,680 Speaker 6: board right, if we look at just the numbers. When 126 00:06:41,720 --> 00:06:44,120 Speaker 6: he took over in two thousand and six, JP Morgan 127 00:06:44,240 --> 00:06:48,920 Speaker 6: was managing nearly a trillion dollarsand assets, they are now managing. 128 00:06:48,560 --> 00:06:49,600 Speaker 2: Three point two trillion. 129 00:06:50,400 --> 00:06:53,000 Speaker 6: You tripled the amount of money that is being managed 130 00:06:53,360 --> 00:06:56,479 Speaker 6: market and the market cap is now over four hundred 131 00:06:56,520 --> 00:07:01,160 Speaker 6: and ten billion, So we're talking about the overall number 132 00:07:01,160 --> 00:07:03,480 Speaker 6: of how much your manager and what the companies net worth. 133 00:07:04,040 --> 00:07:05,600 Speaker 2: He's done a tremendous job. 134 00:07:05,640 --> 00:07:09,000 Speaker 6: And if you've watched the financial sector since two thousand 135 00:07:09,000 --> 00:07:12,640 Speaker 6: and six, especially during that time of the real estate 136 00:07:12,680 --> 00:07:15,840 Speaker 6: crash and how the banks were collapsing, the role that 137 00:07:15,880 --> 00:07:18,560 Speaker 6: he played in it, you're right he might be one of. 138 00:07:18,480 --> 00:07:19,680 Speaker 2: Those CEOs that is under big. 139 00:07:20,400 --> 00:07:22,880 Speaker 6: Absolutely if you look at what he's done for the 140 00:07:22,880 --> 00:07:25,000 Speaker 6: bank and we're talking about since two thousand and six 141 00:07:25,040 --> 00:07:27,600 Speaker 6: to two thousand and eight, especially when the housing market 142 00:07:27,640 --> 00:07:31,480 Speaker 6: crash and the banks were crashing. This guy was the 143 00:07:31,480 --> 00:07:33,200 Speaker 6: one who came up with solution, right when he got 144 00:07:33,200 --> 00:07:35,440 Speaker 6: everybody in the room and said, you're the person that 145 00:07:35,440 --> 00:07:38,280 Speaker 6: can help us get out of this, and he did. 146 00:07:38,560 --> 00:07:41,240 Speaker 6: I mean, you talk about somebody being underpaid in the space, 147 00:07:41,640 --> 00:07:42,679 Speaker 6: he probably is the person. 148 00:07:42,720 --> 00:07:44,400 Speaker 2: If we're talking about all CEOs. 149 00:07:44,080 --> 00:07:47,200 Speaker 6: Especially in the banking sector, but just over the overall market, 150 00:07:47,600 --> 00:07:50,080 Speaker 6: he's probably one of the most important CEOs in the 151 00:07:50,200 --> 00:07:50,880 Speaker 6: US economy. 152 00:07:51,880 --> 00:07:54,120 Speaker 4: No, I agree one thousand percent, especially at the time 153 00:07:54,120 --> 00:07:56,880 Speaker 4: when banks were not trusted, being vilified left and right, 154 00:07:56,920 --> 00:07:59,440 Speaker 4: he kind of brought a little bit of peace in 155 00:07:59,520 --> 00:08:02,080 Speaker 4: that space, so we don't have the same concerns about 156 00:08:02,120 --> 00:08:03,960 Speaker 4: thinking that we did in our seven or eight oh nine. 157 00:08:04,440 --> 00:08:06,480 Speaker 4: He has to get a lot of credit for the