JP Morgan losses above 32 BILLION ? ... Crank up the shorts ?Submitted by carpavel on Tue, 05/22/2012 - 00:46
JP Morgan losses above 32 BILLION ????
This can be very very bad ... and wait until the world finds out about its 1 to 100 NAKED SHORT SILVER POSITIONS. I think these guys are going the way of MF Global.
Did The Fed Just Give Us A Very Big Clue Just How Big JPM's CIO Loss May Be?
Earlier today we mocked Jamie Dimon for announcing the cancellation of his firm's stock buyback program, just two shorts months after March 13, when none other than JP Morgan forced the Fed to scramble and release the full stress test ahead of schedule, after Jamie Dimon decided to frontrun the full FRBNY stress test release (whose sole purpose was to determine under what worst case scenario the Fed was ok with allowing JPM and various other Bank Holding Companies to proceed with dividend raises/stock buybacks) and announce just that - a dividend increase and a stock buyback. Well, in addition to some well justified egg in Dimon's face, today's results actually have some far more troubling implications. Because while we now know that the buyback is over, what we still don't know, because Jamie Dimon refuses to tell us, is just how big the CIO P&L loss as of close today. ...