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Post# of 729747
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Jestiron

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Jestiron

Re: ptolomeo post# 275352

Monday, 02/07/2011 7:47:54 AM

Monday, February 07, 2011 7:47:54 AM

Post# of 729747
This caught my attention as well and I started to post on the matter. You are right though. It is a win win scenario. Additionally, because there is uncertainty, JPM can say all of these loans went bad so that they can work the taxes while at the same time they were never bad loans at all.

So...
-1.9BB to pay for them
+24BB in tax refunds on a $72BB "loss"
+72BB worth in the portfolio that really isn't a "loss".

Seems they worked a great deal...lied about it to make it an even sweeter deal, which WE will pay for.

-Jest

NOTE: Do not make investment decisions based on the information provided in my posts; past, present, or future.

As Always: "Trust But Verify" -Ronald Reagan

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