Mysterious JPM Loss Now $5B+

The Wall Street Journal reports the JP Morgan’s losses on their illegal ‘synthetic’ securities speculation was approved directly by CEO Dimon and have now grown to $5 billion…

To recap what we have learned from the media – JP Morgan has lost a massive amount of money of an unknown amount by betting in some unknown manner on some unknown derivatives. We don’t know what the amount is because it is because for some unknown reason JP Morgan can’t unwind the bet but we know that amount as of right now is $5 billion dollars and will continue to grow…

http://blog.alexanderhiggins.com/2012/05/19/media-clueless-jp-morgan-losses-grow-5-billion-135281/

Related:
The more I look into this and think about it, the more that Barack Obama’s ‘favorite banker’ looks like Enron in their heyday.

http://jessescrossroadscafe.blogspot.com/2012/05/bbc-interview-with-nassim-taleb-on.html

Comments

  1. One of the 99% says:

    Let’s hope that JPM is not another Enron. I don’t think the economy can handle that. Should JPM fail, all remaining confidence in the economy will go with it.

  2. In terms of the F word, JPM is another Enron. The issue is will the Fed paper over the problem.

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