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Saturday, June 20, 2020 9:30:39 PM
The Dimon quote is interesting indeed... a raise would be extremely lucrative for JPM, so I can see why the CEO might take notice
But that implies it happens and on a grand scale
I also think Calabria (and therefore Mnuchin) would be fools to let the raises move beyond January 15th, if they intend to do them, since the lawsuits will fly -- and coming from the new regulator and Treasury secretary they will have some weight
On the other hand, if Calabria/Mnuchin just get FnF out under a consent decree and with contract/conditions as steps that would be good...
But I take your point about FnF still being in the problematically undercapitalized condition and Calabria being a stickler for HERA... Depending what they do with senior pref and warrants, and JPS conversion, then a raise in the Fall could be a lot less large -- and it would make FnF's release much more ironclad...
It makes a lot of sense to do the one big package - IF they can get those two raises done (and on a smaller scale allowed by JPS conversion, pref treatment, etc)
I have my fingers crossed the moves lower on Friday were not SCOTUS leaks, but we shall see...
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