Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It's the same way all the ranters and ravers who scream about evil oil are all invested in exxon etc. It's not what you do it's what the sheep think you do.
JPM has a corner on the unemployment, food stamps and welfare market with their "debit cards".
Uncle Sam won't let them go under..not the House of Morgan.
This is going to be as interesting as watching an avalanche wiping out an alpine valley. Here comes trouble and there is no place to run. At least this will take the big boys down with the rest of us.
Anybody know where to hide 200 TRILLION dollars of funny money that has NO intrinsic value? oops.
This is going to be as interesting as watching an avalanche wiping out an alpine valley. Here comes trouble and there is no place to run. At least this will take the big boys down with the rest of us.
Anybody know where to hide 200 TRILLION dollars of funny money that has NO intrinsic value? oops.
Well the Fed thinks holding companies (FDIC insured of course) are the answer. That's what they told BofA to do with their derivatives. Like hiding an elephant under a napkin The FDIC objected but the derivatives got moved.
Is this a future Black Swan event? Zerohedge is reporting they could lose up to $20 Billion on this mistake. They are trapped in an illiquid investment which they have almost no way to close. The media is not reporting this correctly, IMHO. They are stating it's a $2 Billion loss...uhh, technically this could be an UNLIMITED potential loss!! Very irresponsible by the MSM.
A net $1Bln loss...LAST QUARTER! This is indeed only the opening page to this play.
Moral Hazard. JPM doesn't need to worry about risk because the Fed is right there, ready to bail them out. Just wait and see. It might not hit the MSM but there are enough Fed programs running that JPM will get bailout money.
They may get some, but more than likely not enough to save their London operation or most of JPM's US HQ including Dimon. The example being...you don't burn bridges, and that pay back is indeed a b*tch.
Dimon has demonized both Bernanke and President Obama. With DaintyDimon's job hanging in the wind, don't be surprised if his job and pension/golden parachute is the "collateral" used to obtain JPM "equity injections".
Is this a future Black Swan event? Zerohedge is reporting they could lose up to $20 Billion on this mistake. They are trapped in an illiquid investment which they have almost no way to close. The media is not reporting this correctly, IMHO. They are stating it's a $2 Billion loss...uhh, technically this could be an UNLIMITED potential loss!! Very irresponsible by the MSM.
It doesn't matter. We will bail them out. Again. And yes, Romney or Obama. It doesn't matter.
Well the Fed thinks holding companies (FDIC insured of course) are the answer. That's what they told BofA to do with their derivatives. Like hiding an elephant under a napkin The FDIC objected but the derivatives got moved.
And just wait till Moody's (who's still corrupt) downgrades BoA from A2 to Baa2. BoA will have to put up another $6Bln in "collateral" to protect the FDIC assets.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The FDIC objected but the derivatives got moved.
