"You're not suggesting that the IMF might loan money to Brasil so that they could pretent to pay of their loans to C and JPM are you?"
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ergo sum.....
Moi??
Actually, the repayment part was not as important as it was to stem the panic that was bringing Brazil to its knees. The panic over Brazil was causing extreme pressure on the money center banks and they were in danger of collapsing, which had to be avoided if there was any way to prevent it. That is why the second round of PPT intervention was necessary - to give them time to put the Brazilian rescue in place and end the run on the money center stocks. So far it has worked, but I have serious doubts that we have seen the last of either problem.
That one reason that JPM is one of my "semi-permanent" shorts, which I cover only in rallies.
Take care.
mlsoft
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