[TigerLikesRooster]

P!

[SatinDoll]

I’m sure glad we paid off our Chase mortgage two months ago!

[Fee]

A month ago, JPM and four other large Wall Street banks met with the Fed Reserve in a secret meeting. Rumors were amiss that time that the banks were facing losses possibly from the derivative market on EU bonds. MF Global was the canary in the Wall Street mine. JPM is the first to release its initial losses to see public reaction. The other US Wall Street banks have similar losses which will be exposed in the future. Problem in a nutshell, JPM (and maybe other US banks) thought they had a well thought out computer program to leverage money in derivatives on EU sovereign debt. Problem is the EU crisis was more volatile then one predicted thus JPM (and maybe other US banks) now own the derivatives that are losing value each day, and worst there is no private buyer in the derivative exchange for it. Everyone is too scare to buy derivatives on EU debt no matter how low the prices go. In other words JPM (and the other US banks) maybe stuck with these devaluing derivatives and are facing severe losses. They may have gone to the Fed with the threat of financial meltdown. Problem is the Fed and US Treasury is out of options to bail them out in an election year. 2012 is going to be a mess. We will see how the markets react on Monday.

[ronnie raygun]

Sounds like they got the memo from zero and his crime syndicate, make up a loss so we can come in with new harder regulations on everyone except you, you will get a pass like many have gotten with zerocare. Chase like GE, AARP and many others have teamed up with the Chicago cosa nostra to solidify thier position with the syndicate and push and destroy all others. Nationalsation at it’s best

[Wolfie]

I watched a Frontline documentary on the 2008 financial crisis, and why things hadn’t changed very much since then. The experts agreed...it wasn’t bad enough. Only a total collapse will bring the regulation needed. Oh, I forgot, regulation is bad. Never mind.

[Travis McGee]

[GBA]

Here we go again. We still haven't figured out the cause of our problems, so we'll have yet another opportunity to figure it out.

If you thought the last few shakes were attention getters, you're gonna love what comes next.