Jamie Dimon called Jon Corzine threatening his life and demanding that MF Global meet JPM's $200 million margin callSubmitted by Apple on Tue, 03/27/2012 - 06:48
JP Morgan-MF Global-Euro Gate Escalates
by Tom Heneghan
International Intelligence Expert
Found at - My Space.com
Sunday March 25, 2012
UNITED STATES of America - It can now be reported that the U.S. Senate Committee on Banking has new evidence showing that JP Morgan had a $200 million overdraft aka a second margin call on the London LIFFE Exchange three days before the MF Global bankruptcy fiasco was triggered.
The second margin call (the first margin call was four days earlier for $175 million) dealt with cross-collateralized, compounded naked euro currency put options that were written by JP Morgan with the transactions being placed through the CME Group and the aforementioned London LIFFE Exchange.We can now divulge that, thanks to PROMIS software, MF Global took the opposite side of the trade.
Note: The fact that MF Global took the opposite side of the trade is a significant development and it completely torpedoes the ISDA’s (International Swaps and Derivatives Association) legal standing that declared the latest Greek bailout a non-credit event rather than what it really is, a Greek default.
The ISDA’s decision has temporarily rewarded crooked banks, as well as Goldman Sachs and JP Morgan, and screwed the hedge funds as well as the looted customer segregated accounts that were tied to MF Global.