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JPMorgan loses $2B

Discussion in 'Preparedness & Survival' started by ATCclears, May 10, 2012.

  1. ATCclears

    ATCclears Seattle area, WA Well-Known Member

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  2. FarmerTed1971

    FarmerTed1971 Portland, Oregon, United States Well-Known Member

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    Golf clap?
     
  3. knuckle Head

    knuckle Head southeast Well-Known Member

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    I just wander how many of the other bailed out banks are about to announce the same thing, and throw us into a further downward dismal spiral, hope everyone paying attention to these articles and not just blowing them off, because they do not want to know the truth
     
  4. JGRuby

    JGRuby Portland Oregon New Member

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    The money was not lost - it went somewhere - meaning someone has it. JPMorgan, the company, simply doesnt control it.

    James Ruby
     
    Decker and (deleted member) like this.
  5. ATCclears

    ATCclears Seattle area, WA Well-Known Member

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    FT.com is reporting that JP Morgan has $100 billion of risky bonds.

    "The unit at the centre of JPMorgan Chase’s $2bn trading loss has built up positions totalling more than $100bn in asset-backed securities and structured products – the complex, risky bonds at the centre of the financial crisis in 2008. These holdings are in addition to those in credit derivatives which led to the losses and have mired the bank in regulatory investigations and criticism."
     
  6. DieselScout

    DieselScout S Clackamas County Well-Known Member

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    I wish they would have lost my mortgage! :D:D
     
  7. Cougfan2

    Cougfan2 Hillsboro, OR Well-Known Member

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    +1
     
  8. Truenorth

    Truenorth Pacific Northwet Active Member

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    As of this moring that figure is now above 7 billion, lot of cash to lose control of.
     
  9. ATCclears

    ATCclears Seattle area, WA Well-Known Member

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    It will go higher...
     
  10. beavertonbuck

    beavertonbuck Beaverton Active Member

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    Just for some perspective JP has over $100B in equity and total assets of $1.1T. This definitely hurts but isn't likely going to cause to much trouble for the company.
     
  11. Burt Gummer

    Burt Gummer Portland Completely Out of Ammo

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    Nothing to celebrate because it is YOUR tax dollars that will be paid out to 'save' these parasites. Or the private Fed will simply print billions and hand it to them, out of thin air = still a tax called inflation.

    That is why they can freely gamble huge amounts of money at high risk. Why should they care about risk? Bought and paid for politicians (all important ones are), over taxpayer objections, will simply let them loot the Treasury to cover their losses. Because these same folks own all the media the American numbskull populace will never figure out that the enemy that killed America is a central bank, not some brown-skinned made-up terrorist 2300 miles away.
     
  12. Marz

    Marz PDX Member

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    Sheesus..