Lehman Brothers Financial SA (LEHNQ)

[WaS]

Unless you're saying JPM is insolvent and can't afford to make the payment, then I think you are probably wrong in your interpretation.

"A guarantor is someone who pledges that a loan or other type of debt will be paid. Usually, a guarantor agrees to pay or perform another person's debt or duty should that person fail to do so."

"This Guarantee will constitute an unsecured obligation of the Guarantor and will rank (i) subordinate and junior in right of payment to all other liabilities of the Guarantor, (ii) on a parity with the most senior preferred or preference stock now or hereafter issued by the Guarantor and with any guarantee now or hereafter entered into by the Guarantor in respect of any preferred securities of any Affiliate of the Guarantor and (iii) senior to the Guarantor’s common stock. In addition, at all times such obligations will be structurally subordinated to the liabilities and obligations of the Guarantor’s subsidiaries."

"Guarantee is worthless based on your links."