aedens wrote:“Hypothetical, illustrative example of the orderly liquidation of JPMorgan Chase”
http://ftalphaville.ft.com/blog/2012/06 ... gan-chase/
In March, Gregory Baer, deputy general counsel, presented a plan to policymakers and bankers to show the results of a hypothetical $50bn loss. It showed the bank would fail, shareholders would be wiped out . In the doomsday scenario set out by Mr Baer, a $50bn loss would trigger “a run on the bank” – with $375bn of funding, including bank deposits, draining away. The government would then step in and mark down the bank’s assets, leading to an additional $150bn loss. Shareholders would be wiped out but senior creditors would be transferred to a new bridge company that allows “critical activities [to] continue to operate smoothly”. Their debt would be restructured into equity. The bank might require $200bn of temporary government funding, though the bridge company would return to the private sector and New JPMorgan would raise $200bn in the private markets to repay the government loan, the plan says.
All is well unless you pay taxes or resemble ongoing Collateral.
http://www.law.harvard.edu/programs/abo ... e/baer.pdf
in our neighborhood we see some houses with 7 cars
one put in a parking lot style driveway
another one widened theirs so the cars pull in diagonal on the one new side
Better yet, maybe Dimon is reminding people that it’s President Obama that’s in fact supporting him? Even after recent criticism of the bank CEO, President Obama called Dimon “one of the smartest bankers we’ve got” during an interview on The View in May, according to Politico.
Whatever the reason behind the cufflinks, one thing that’s for certain is that both Jamie Dimon and JPMorgan Chase have plenty of close ties with Washington.
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