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JohnnyWinter

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JohnnyWinter

Re: BullNBear52 post# 951

Sunday, 11/15/2009 11:23:52 PM

Sunday, November 15, 2009 11:23:52 PM

Post# of 3212
JPM actually had cash/assets in order to absorb the WaMu losses. WMI had very little of each and was in no position at all to be able to absorb the losses. These were the same losses that that were much bigger than WMI's fraudulent executives admitted.

Cash is king, and JPM never had any trouble raising cash.

How J.P. Morgan Raised $11.5 Billion in 24 Hours

http://blogs.wsj.com/deals/2008/09/29/how-jp-morgan-raised-115-billion-in-24-hours/

Numbers don't lie, people do.

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