Earnings on Tap for Thursday, Fingers Crossed [View article]
From Portfolio.com:
"Morgan’s derivatives project began in the wake of the Asian financial crisis in 1997 as an attempt to protect the bank from bad loans. Demchak’s innovations worked—for his bank. Morgan came to dominate this corner of the financial world while preserving a culture of prudence. Morgan—deemed to be so safe that it snagged two of the victims of the financial-system collapse, Bear Stearns and Washington Mutual—is still swimming in credit derivatives, far more than any other firm on Wall Street, though the bank says it’s hedged. As of the second quarter of 2008, the bank had written derivatives contracts backing credit valued at $10.2 trillion, roughly three-quarters the size of the U.S. economy."
Earnings on Tap for Thursday, Fingers Crossed [View article]
Gabe B. you need professional help. What happens after "one more aggressive easing"? We're at 1.5 assclown. "All issues have been identified..." How about JPMorgan's $90,000,000,000,000 (trillion) derivative exposure. Really it's time you woke up.
Earnings on Tap for Thursday, Fingers Crossed [View article]
"For the record ,JP Morgan does not even have a fraction of the 90 trillion dollars exposure in the derivative market."
Who is lying, the Treasury or Gabe Borenstein?
Ignoring or underestimating enormous risk got us into this crisis. Even Greenspan admitted it today, way too late to save his sorry reputation.
Earnings on Tap for Thursday, Fingers Crossed [View article]
Comptroller's office figures.
Do you think they exaggerate risk, or minimize it?
Gabe Borenstein shut up before you cause more damage. This is not funny.
Earnings on Tap for Thursday, Fingers Crossed [View article]
Earnings on Tap for Thursday, Fingers Crossed [View article]
"Morgan’s derivatives project began in the wake of the Asian financial crisis in 1997 as an attempt to protect the bank from bad loans. Demchak’s innovations worked—for his bank. Morgan came to dominate this corner of the financial world while preserving a culture of prudence. Morgan—deemed to be so safe that it snagged two of the victims of the financial-system collapse, Bear Stearns and Washington Mutual—is still swimming in credit derivatives, far more than any other firm on Wall Street, though the bank says it’s hedged. As of the second quarter of 2008, the bank had written derivatives contracts backing credit valued at $10.2 trillion, roughly three-quarters the size of the U.S. economy."
Total exposure $90,000,000,000,000.
Earnings on Tap for Thursday, Fingers Crossed [View article]
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