The Five Dumbest Things on Wall Street This Week: June 15

Yep, from margins shrinking to Einhorn gloating, it's going to be a really rough climb for the folks at Green Mountain from here on out. And it certainly can't be easy for the company since its stock peaked at $116 last September.

"We might consider selectively two or three or four possibly private-label brands, store brands, as everybody in the room knows they typically operate with a value to the consumer. However, again we won't do them unless we think that they are profitable," Green Mountain Chief Executive Larry Blanford said at a conference last week.

Sorry Larry, but that's not exactly the most inspiring of game plans to turn things around. Even to fool the fools on Wall Street you'll have to think of something way smarter than that.

Meanwhile, Green Mountain spokeswoman Suzanne DuLong's isn't infusing much confidence in the company either. In response to Reuters questioning about the increased K-Cup competition, she told the news outlet to check its previous statements about Green Mountain's first-mover advantage and its institutional knowledge about manufacturing K-Cup packs.

Sure Suzanne, it's real, real hard to make a packet of coffee. If that's the case, however, why is every green grocer and corner deli getting in the game as we speak? Percolate on that why don't you.

1. Dimon's Self-Inflicted Disaster

What a difference a year and a $2 billion (and counting) loss makes. Right Jamie Dimon?

JPMorgan Chase's(JPM) CEO found himself before a Senate panel this Wednesday with the uncomfortable task of explaining why and how his London-based Chief Investment Office lost billions when it was supposed to be hedging run-of-the-mill risk for the bank's excess deposits.

Of course, the reason why this appearance was less pleasurable for Jamie than his previous jaunts to Washington -- the ones where he played Congress' prize pupil sitting in a pew full of naughty, bailed-out bank CEOs -- was because in this case Dimon set the witness table for himself.

In other words, Jamie's own hubris came back to bite the government's former golden boy in the ass. And sadly, that's the real dumb part of this whole affair, not so much the loss, which, although sizable by Main Street standards, is barely a blip for a company with $1.1 trillion in deposits, $700 billion in loans and $18 billion in profits last year.