Monday , 10 December 2018


Tag Archives: JPMorgan Chase

Coming Derivatives Crisis Will Cause Panic in Financial Markets With Horrific Consequences – Here’s Why

Wall Street has been transformed into a gigantic casino where people are betting on just about anything that you can imagine. This works fine as long as there are not any wild swings in the economy and risk is managed with strict discipline but, as we have seen, there have been times when derivatives have caused massive problems in recent years - the government bailout because of derivatives at AIG; the failure of MF Global because of bad derivatives trades; and the 6 billion dollar loss that JPMorgan Chase recently suffered because of derivatives - [but the next] derivatives panic that comes will destroy global financial markets, and the economic fallout from the financial crash that will happen as a result will be absolutely horrific. [Let me explain my contention.] Words: 1485

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"Street Fighters: The Last 72 Hours of Bear Stearns" – A Book by Kate Kelly

What did the investment bankers at Bear Stearns ever do to earn their millions of dollars in bonuses? Where were the regulators when traders at Bear and other Wall Street firms peddled trillions of dollars in mortgage-backed bonds and derivatives, only to realize, too late, that no one had a clue what they were worth? The author keeps the you-are-there factor high much like a Shakespeare play, complete with three acts and characters dialoguing their way on and off stage. Words: 689

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