Posted on 06/28/2012 6:34:16 AM PDT by Kartographer
Losses on JPMorgan Chase’s bungled trade could total as much as $9 billion, far exceeding earlier public estimates, according to people who have been briefed on the situation. When Jamie Dimon, the bank’s chief executive, announced in May that the bank had lost $2 billion in a bet on credit derivatives, he estimated that losses could double within the next few quarters. But the red ink has been mounting in recent weeks, as the bank has been unwinding its positions, according to interviews with current and former traders and executives at the bank who asked not to be named because of investigations into the bank.
(Excerpt) Read more at dealbook.nytimes.com ...
Here comes another bailout.
http://www.unelected.org/audit-of-the-federal-reserve-reveals-16-trillion-in-secret-bailouts
They're audited every year
The audit was 'limited'
http://rgvrlc.org/2011/08/gaos-limited-audit-of-the-federal-reserve-sickening
No they couldn't. They had to get permission from their regulators first.
Thanks for the link. Now all you have to do is show me what Bernanke said and tell me how your link proves he lied.
They're audited every year
The audit was 'limited'
What do you feel was left out?
Bullcrap. Show me the documentation of that. Cite the page number and paragraph with a link to a PDF or Word document.
First paragraph.
The Treasury is preparing to announce today it will let 10 banks buy back government shares, people familiar with the matter said, signaling confidence some of the largest U.S. lenders won’t again need a taxpayer rescue.
JPMorgan Chase & Co. is among those cleared to repay Troubled Asset Relief Program funds, a person said on condition of anonymity.
Go to YouTube and look for the video of Alan Grayson querying Bernanke on who received the credit swap money. Bernanke says (paraphrasing) 'he doesn't know because the Fed only gave, short-term, colatarized liquidity swaps to the CFPP.".
Then, there's this:
http://www.zerohedge.com/article/meet-35-foreign-banks-got-bailed-out-fed-and-just-cpff-banks
Suddenly, they know who got the money....
What do you feel was left out?
The senate slashed the audit bill so that no individuals, partnerships or hedge fund bail outs were included in the audit.
“the most immediate effect of this will be to get a Fake White Indian elected to the US Senate.”
She is like a derivative, she has no intrinsic value.
That’s not what I asked you for.
Grayson is a moron. Credit swap money? You mean swaps between the Fed and other central banks?
If that's the case, the Fed swapped dollars in exchange for their foreign currency. If you think Grayson and his smugly, idiotic questions caught Bernanke in a lie, you'll have to show me the clip.
I'll be happy to explain your error.
What do you feel was left out?
The senate slashed the audit bill so that no individuals, partnerships or hedge fund bail outs were included in the audit.
Huh? You'll have to clarify, because that makes no sense. Do you understand what an audit includes?
What part of the government bought shares and wasn’t going to sell them back just because you “mailed tham a check” was too confusing for you?
No you haven't. You said Bernanke lied. Then you failed to provide his lie. Or show that your magazine article proves he lied.
Your question regarding the audit leads me to believe that it's you that doesn't understand what the audit includes.
Audits include assets, liabilities, cash flow statements, purchases and sales. What else do you think they should include?
Good day to you.
Run away.
Be sure to let me know if you ever find proof for your claims.
B.) is then refuted by the ZH article. BTW, there are other ZH articles re: Bernanke's lies about the European bailout. He's also on record lying on 60 minutes about printing money (attests to Bernanke's credibility) but then, you don't seem to be interested in the proof that's out there as much as you seem interested in defending Bernanke.
C.) audits involve more than the items you listed depending on the type of audit. Like I said, the senate cut the bill and it then precluded auditing particulars in regard to bailouts of entities other than banks.
D.) I'm not running anywhere, I just have no further interest in providing you with information that you obviously haven't even looked at. Aside from that, you seem to enjoy playing internet tough guy and I'm just not interested.
Then we can continue the discussion.
audits involve more than the items you listed depending on the type of audit.
http://www.federalreserve.gov/monetarypolicy/bst_fedfinancials.htm
The above link has the last 2 years of audited Fed financials.
Like I said, the senate cut the bill and it then precluded auditing particulars in regard to bailouts of entities other than banks.
Fed bailouts? How is a loan, a short term loan, a bailout?
I just have no further interest in providing you with information
Yes, I've noticed your inability to provide information proving your claims.
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