devils advocate

Did JPMorgan Almost Fail?

holy conspiracy theorist batman. I especially like how you selectively take quotes from the bankruptcy filings. Let me put this into perspective. Let's say that you owe me $500 (in addition to the $thousands you owe other people). I also know that you run a strong chance of going bankrupt. I have $50 of your assets in collateral (which incidentally is only worth about $20 because much of this has gone down in value significantly). Should I give you this $20 back to you? In your article, you suggest that my not giving you your $20 back is the cause of your bankruptcy? Now, I am not saying that JPM is above this mess by any stretch, but to pin Lehman's failings on anyone but Lehman is absurd. They got themselves into this mess, overleveraged and got caught. I do not like any more than the next guy how they went down, but to blame JPM for seeing the writing on the wall and getting at least some collateral against the money they were owed and not giving it back.....I'm guessing you saw Jamie Dimon on the grassy knoll as well!