Recently, the best guess was that Bank of America was on the verge of bankruptcy and would be the first of the “too big to fail” banks to actually go under. However, the news about JP Morgan’s monumental $2B trading loss is dropping on the financial community like an ICBM and the fallout appears to be the distinct possibility that either or both JPM and its CEO, Jamie Dimon, are toast. — Dennis
From the Road to Roota Newsletter
How do bank runs start? Why do they happen so suddenly? What happens when a “too big to fail” bank actually fails?
These are the questions that will be asked in the days and weeks that follow. Jamie Dimon showed his cards yesterday when he said this…
“I do want to remind you that none of this has anything to do with clients.”
http://www.marketwatch.com/story/miss-jamie-dimons-conference-call-hear-it-here-2012-05-11-1150520
It took just a few days for “clients” of Lehman Brothers to head for the hills which ate up their tier one capital almost instantaneously. Leverage is great when you are winning but a real bitch when you are losing. It is clear to many that JP Morgan’s losses are just beginning to surface, so how long will it take for their “clients” to head for the hills? Will JPM still be solvent next week? Who knows.
I do know one thing though. Every single holder of the “Big Silver Short” has gone belly up! It started with Drexel Burnham in the 1980′s then got passed to AIG then Bear Sterns and it now presides at JP Morgan.
If no one takes the torch from JPM we will see the end of Silver market manipulation very soon.
Have a restful weekend.
Bix Weir
Related
- Jamie Dimon’s $2bn conference call, sends a record amount of traffic to dictionary.com #egregious #jpmorgan #dimon (simplesimon8.wordpress.com)
- What Jamie Dimon Doesn’t Know Is Plain Scary (sgtreport.com)
- JPM Morgan Humpty Dumpty Moment $JPM $XLF (financialskeptic.wordpress.com)
- JP Morgan (JPM) Whale: “Thar She Blows” (wallstreetpit.com)
- JP Morgan – Aaaaarrrrgggghh (ritholtz.com)
Related posts:
- Bix Weir: JPM Greek Derivative Losses Finally Reported!
- Bix Weir: Silver Market Manipulation and “Too big to fail”
- Bix Weir ~ Criminal Neglect and Corruption at the CFTC
- JP Morgan Lawyer Exposes Corruption at JPM, MF Global & the CFTC
- Bix Weir May 3, 2012 – ALERT: Another “Hit” For the Road to Roota!
