Could JP Morgan mistake bankrupt them? (Obama, companies, elections, elect)

[Pequaman]

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.

[Pequaman]

Link The "World's Largest Prop Trading Desk" Just Went Bust | ZeroHedge

[HappyTexan]

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.

[Hot_Handz]

I hope so....let them crash and burn....all the banks.

[summers73]

No because Obama won't let that happen to them. After all, JP Morgan was tasked by the gov't with finding ways to skim from the top of the food stamp program.

Corporate fascism WIN!

[CDusr]

Don't be surprised if there won't be more coming. JPM is the "derivative king".

[KUchief25]

If this is the beginning of the derivative landslide the printing presses can't work fast enough to bail that mess out.

[HappyTexan]

Well it may get worse..Europe has voted out "austerity" with recent elections.
What will that mean to all those IMF loans ?

[KUchief25]

Hadn't heard that one. Yep those loans just went out the window too. All that money that we have been sending to the IMF just got flushed away. I don't think the Germans will be too happy.

[evilnewbie]

I believe Obama has some of his money invested in JPMorgan... therefore if they are in trouble, Obama will bail them out... again... I do think it is odd that Obama hates corporations like these finance companies and yet, continues to invest his money into them...