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Forum Post: Article: Jamie Dimon Just Admitted To The World That JPM Assets Are Overvalued By $150 Billion

Posted 9 years ago on Aug. 12, 2012, 6:59 p.m. EST by minhaalmaa (4)
This content is user submitted and not an official statement


Buried in its mandated report on JP Morgan’s contingency plan in the event of collapse, JP Morgan has admitted it’s assets are overvalued by $150 billion, essentially leaving their equity position at (-$16 billion)! The Morgue’s recent $7 billion CIO losses weigh slightly larger against a real equity of -$16 billion!

Reuters published an exclusive story this morning:

U.S. banks told to make secret plans for preventing collapse Buried in the final paragraph:

In a presentation in March, JPMorgan Chase said it had a recovery plan in place and said it was ordered by regulators. The presentation was organized by Harvard Law School and was closed to the media at the time, but is now available online.

Here’s the BEST part of the JPM document.

It’s easy to see on the PDF: http://www.law.harvard.edu/programs/about/pifs/symposia/europe/baer.pdf

Go to page 9. Under the wipeout scenario JPM describes a $50 billion trading loss turning into a $200 billion loss as soon as the FDIC takes over. Why… ? Because JPM says they would expect the FDIC to immediately writedown JPM’s assets by an additional $150 billion.

Holy mark to bulls*. Jamie Dimon just admitted to the world that JPM is mis-marking assets to the tune of $150 billion.

It gets better. Go to page 10. The chart shows that they only have $184 billion in equity, minus the $50 billion loss, minus ‘the $150 billion fdic reality adjustment’, which leaves them in a negative equity position of (-$16 billion).

So, we can extrapolate that without this phantom loss of $50 billion, JPM’s real equity position is just $34 billion currently, not the $184 billion on their books.



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[-] 1 points by Cocreator (306) 9 years ago

General AssemblIes,Citizens Arrest Committee, Citizens Audit Committee, Peoples' Court..Public trials, We have the evidence..The present bought and paid for judges and prosecuters offer no representation..You cannot get a fair hearing in any court that is working for the ones we are trying to apprehend..We have to take matters in our own hands and grab the bull by the horns and wrestle it to the ground before it breaks everything to pieces..Seize their assets and give it to the people..

[-] 1 points by DebtNEUTRALITYpetition (647) 9 years ago

I've shared this link address with my bloggers against chase bank website. http://bloggersagainstchasebank.blogspot.com/2012/08/forum-post-article-jamie-dimon-just.html

[-] 1 points by hchc (3297) from Tampa, FL 9 years ago

When you own the Fed, the gov and the media, I guess it doesnt matter how big the lie is...

[-] 1 points by richardkentgates (3269) 9 years ago

Thx for the post

[-] 1 points by PeterKropotkin (1050) from Oakland, CA 9 years ago

Good post

[-] 1 points by DebtNEUTRALITYpetition (647) 9 years ago

The lesson to take away from this is, Wall Street creates very little, they simply like to go around sticking their straw wherever they find a suckable crevice, and then they suck away until the entity collapses from the vacuum created by the bank's own straw.

[-] 1 points by DebtNEUTRALITYpetition (647) 9 years ago

I seem to recall reading that Chase Bank would buy up businesses that were struggling and pay pennies on the dollar. Eventually however, this is nothing more than slash and burn and suddenly the customers for those businesses dry up specifically because of the take over.

So Chase Bank may have sowed what they reaped, it appears they bought out struggling businesses very cheaply, only to have the company become worth what Chase actually paid for it.