Jim Willie on the BSC situation:
"In truth, we might later learn that Bear Stearns helped to bail out JPMorgan, in helping to shore up its credit derivatives, in providing some emergency collateral, soon to bust, to prevent a JPMorgan failure!!!"
"JPMorgan owns $7.778 trillion of credit derivatives, two and a half times as much as Citigroup."
"And lest one forget, Enron and Bear Stearns have a common denominator in JPMorgan being the key player in the operations and agent during the demise of the two firms."
"When the USFed frees JPM from liability on any losses from collateral submitted by Bear Stearns, one has to giggle since the USFed is JPMorgan"
My take: "BSC was ganged up on to make sure JPM could stay alive and buy back their counter-party risk on the cheap"
http://news.goldseek.com/GoldenJackass/1206025200.php
"In truth, we might later learn that Bear Stearns helped to bail out JPMorgan, in helping to shore up its credit derivatives, in providing some emergency collateral, soon to bust, to prevent a JPMorgan failure!!!"
"JPMorgan owns $7.778 trillion of credit derivatives, two and a half times as much as Citigroup."
"And lest one forget, Enron and Bear Stearns have a common denominator in JPMorgan being the key player in the operations and agent during the demise of the two firms."
"When the USFed frees JPM from liability on any losses from collateral submitted by Bear Stearns, one has to giggle since the USFed is JPMorgan"
My take: "BSC was ganged up on to make sure JPM could stay alive and buy back their counter-party risk on the cheap"
http://news.goldseek.com/GoldenJackass/1206025200.php
