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Monday, June 12, 2023 7:03:10 PM
September 14, 2008;
Lehman’s couldn’t close their books because JPM didn’t have the money to forward to Lehman’s ‘Mark to Market’ as the ongoing nightly loan.
Lehman’s, like Bear Stearns, and WMI, held large ownership of ABS/MBS CERTS Insured by Derivatives.
Bear Stearns; JPM withheld derivatives insurance payment which left BS cash short.
The True History is True!!
Litigation takes time. JPM has lost in the WaMu case. And with more time, more losses. Just hasn’t paid, yet in WMB’s case. The FDIC is not released yet. For JPM, the real Release comes with payment.
2008; JPM owned 57% of in $83 Trillion Derivative Notables. $13 Trillion was in Housing.
Not just Lehman’s, BS, WaMu was robed by the Derivative Market Meltdown, so was many Hedge Funds with Attorneys.
The Derivative Market isn’t discussed because few even know that that market even exists?!?
The Derivative Market is buried in the LIBOR litigation.
As of last year;
BIS accounted for $632 Trillion in Derivative Notables.
Think about that,
Ron
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