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More Dimon (JPM): He reiterates the loss "could easily get worse this quarter." The reason for a...
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Thursday, May 10, 2012, 5:18 PM ETMore Dimon (JPM): He reiterates the loss "could easily get worse this quarter." The reason for a "fortress" balance sheet is to handle situations like this. He says the bank's Basel III ratio will be amended down to 8.2% from 8.4% and JPM will still earn $4B in Q2. Shares -5.3% AH.
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What if Basel goes up to 8.6% or 8.8%, it makes no difference!
This is a case of getting caught with your pants down!
If this didn't come to light, good old Jamie would sure as hell not be so forth coming! It's amazing how the sunlight is such a strong disinfectant!
This is a nightmare of Bernanke and Geithner's making and it is going to speed the final act in this confidence destroying, ever more intrusive mis management of our once free market system!
Look out below!