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  • JP Morgan loses 2 billion

    http://online.wsj.com/article/SB1000...=djemalertNEWS is where the down and dirty is. Basically Jp morgan chase took a whole lot of investor's money and lost it. The stock market could drop a couple of hundered if not several points tommorrow. Jp morgan chase is the nations largest bank.
    Eternity is a long time to be wrong.

  • #2
    Just researched this, its seems they hedged bets in some bad areas. This is going to be huge in the morning, the effect will be felt in Europe to. One day the really big one will hit, who knows this may be the beginning...

    The LORD is my shepherd; I shall not want. He maketh me to lie down in green pastures: he leadeth me beside the still waters. He restoreth my soul: he leadeth me in the paths of righteousness for his name's sake. Yea, though I walk through the valley of the shadow of death, I will fear no evil: for thou art with me.... Living for Jesus - Listening for the Trumpet

    :snoopy

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    • #3
      Originally posted by In Christ View Post
      Just researched this, its seems they hedged bets in some bad areas. This is going to be huge in the morning, the effect will be felt in Europe to. One day the really big one will hit, who knows this may be the beginning...

      And we'll be


      sigpic

      Luke 21:28

      "Now when these things begin to happen, look up and lift up your heads, because your redemption draws near"

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      • #4
        Originally posted by $teve View Post
        And we'll be


        to that Brother!
        The LORD is my shepherd; I shall not want. He maketh me to lie down in green pastures: he leadeth me beside the still waters. He restoreth my soul: he leadeth me in the paths of righteousness for his name's sake. Yea, though I walk through the valley of the shadow of death, I will fear no evil: for thou art with me.... Living for Jesus - Listening for the Trumpet

        :snoopy

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        • #5
          Did you know that JP Morgan funds the food stamp?

          Comment


          • #6
            Originally posted by In Christ View Post
            Just researched this, its seems they hedged bets in some bad areas. This is going to be huge in the morning, the effect will be felt in Europe to. One day the really big one will hit, who knows this may be the beginning...

            In Christ, my dad just passed away this morning at the age of 89. I had hoped and always felt like he and my mother would be here for the rapture. I'm a bit bummed by that but I am thinking my dad's funeral Monday will be maybe one last time some of my family will hear the gospel before the very very soon rapture. This could be therir escape from the wrath that is soon coming upon this world and while we are sad tonight my grief is subdued knowing I will be seeing dad again very very soon!!! He got a jump on us by seeing Jesus face to face this morning at 11:05 AM!!!

            I think this news is big. If we start to see a big drop in the stock market I think we are going home before things get really bad since Jesus will be coming back as in the days of Noah (business as usual) and as a thief in the night (big surprise). If we couple that with the rapidly occuring events with Israel in the middle east. I am on the edge of my seat just waiting for the trumpet shofar blast and Jesus calling us home.
            Jesus is coming now at "Any Moment"! Are you ready?

            Romans 10:9 That if you confess with your mouth, "Jesus is Lord," and believe in your heart that God raised him from the dead, you will be saved.

            Praying for the Peace of Jerusalem. Amen.

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            • #7
              Originally posted by WVBORN56 View Post
              In Christ, my dad just passed away this morning at the age of 89. I had hoped and always felt like he and my mother would be here for the rapture. I'm a bit bummed by that but I am thinking my dad's funeral Monday will be maybe one last time some of my family will hear the gospel before the very very soon rapture. This could be therir escape from the wrath that is soon coming upon this world and while we are sad tonight my grief is subdued knowing I will be seeing dad again very very soon!!! He got a jump on us by seeing Jesus face to face this morning at 11:05 AM!!!

              I think this news is big. If we start to see a big drop in the stock market I think we are going home before things get really bad since Jesus will be coming back as in the days of Noah (business as usual) and as a thief in the night (big surprise). If we couple that with the rapidly occuring events with Israel in the middle east. I am on the edge of my seat just waiting for the trumpet shofar blast and Jesus calling us home.
              I'm really sorry to hear about your dad, but I'm also really happy for him that he's with the Lord now too. My dad passed away in December 2007, so I can say from experience, and not just platitudes, that I really do know how you feel. Just keep hangin' in there like you are now is all I can really say, and do keep trying to take comfort in the fact that your dad's in Heaven. I do hope (and suspect) that we will be seeing our dads again soon. Things are certainly getting interesting. I'll say that much.

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              • #8
                Originally posted by WVBORN56 View Post
                In Christ, my dad just passed away this morning at the age of 89. I had hoped and always felt like he and my mother would be here for the rapture. I'm a bit bummed by that but I am thinking my dad's funeral Monday will be maybe one last time some of my family will hear the gospel before the very very soon rapture. This could be therir escape from the wrath that is soon coming upon this world and while we are sad tonight my grief is subdued knowing I will be seeing dad again very very soon!!! He got a jump on us by seeing Jesus face to face this morning at 11:05 AM!!!

                I think this news is big. If we start to see a big drop in the stock market I think we are going home before things get really bad since Jesus will be coming back as in the days of Noah (business as usual) and as a thief in the night (big surprise). If we couple that with the rapidly occuring events with Israel in the middle east. I am on the edge of my seat just waiting for the trumpet shofar blast and Jesus calling us home.

                Praying for you and your family.

                Comment


                • #9
                  Originally posted by WVBORN56 View Post
                  In Christ, my dad just passed away this morning at the age of 89. I had hoped and always felt like he and my mother would be here for the rapture. I'm a bit bummed by that but I am thinking my dad's funeral Monday will be maybe one last time some of my family will hear the gospel before the very very soon rapture. This could be therir escape from the wrath that is soon coming upon this world and while we are sad tonight my grief is subdued knowing I will be seeing dad again very very soon!!! He got a jump on us by seeing Jesus face to face this morning at 11:05 AM!!!

                  I think this news is big. If we start to see a big drop in the stock market I think we are going home before things get really bad since Jesus will be coming back as in the days of Noah (business as usual) and as a thief in the night (big surprise). If we couple that with the rapidly occuring events with Israel in the middle east. I am on the edge of my seat just waiting for the trumpet shofar blast and Jesus calling us home.

                  WVBorn... I am praying for the grief that your family is feeling during this family time. I also am very glad to hear that your Dad is a "living" Christian with the Lord as of 11:05am yesterday, I like to think physical death is akin to the Rapture as the spirit within us ascends to the Lord in microseconds... May God give peace to your family during this time...

                  Yes, I am keenly watching the financials this morning to see just what fallout may occur from JPMorgan, while also keeping a close eye on the ME. May God keep us from the coming wrath by removing us just at the right time as he always does (rescues us) when we fall into troubled times.

                  God be with you and your family!

                  The LORD is my shepherd; I shall not want. He maketh me to lie down in green pastures: he leadeth me beside the still waters. He restoreth my soul: he leadeth me in the paths of righteousness for his name's sake. Yea, though I walk through the valley of the shadow of death, I will fear no evil: for thou art with me.... Living for Jesus - Listening for the Trumpet

                  :snoopy

                  Comment


                  • #10
                    Not to worry, I have no doubt that the lost 2 billion will turn up in DC.


                    I can here Obama now....

                    Pardon JP, did you loose a stray 2 bill-yon?
                    Sign Here....


                    Grey Pupon commercial.....
                    It's ALL about Jesus. The Son of God - Emanuel - The Mighty God - Our Salvation.

                    John 1:1-3 NKJV --- Luke 22:42 NKJV --Romans 3:23 NKJV, Rom 5:8 NKJV, Rom 8:28 NKJV, Rom 8:31 NKJV, Rom8:38-39 NKJV, ---Titus 1:2 NKJV - Heb 6:18 NKJV --- John 14:6 NKJV --- 1 John 5:13 NKJV --- Acts 16:29-31 NKJV ... John 6:28-29 NKJV... 1John 2:22 NKJV... Heb 10:11-13 NKJV

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                    • #11
                      Originally posted by Wally View Post
                      Not to worry, I have no doubt that the lost 2 billion will turn up in DC.


                      I can here Obama now....

                      Pardon JP, did you loose a stray 2 bill-yon?
                      Sign Here....


                      Grey Pupon commercial.....
                      LOL! haha... Right on!
                      The LORD is my shepherd; I shall not want. He maketh me to lie down in green pastures: he leadeth me beside the still waters. He restoreth my soul: he leadeth me in the paths of righteousness for his name's sake. Yea, though I walk through the valley of the shadow of death, I will fear no evil: for thou art with me.... Living for Jesus - Listening for the Trumpet

                      :snoopy

                      Comment


                      • #12
                        Originally posted by WVBORN56 View Post
                        In Christ, my dad just passed away this morning at the age of 89. I had hoped and always felt like he and my mother would be here for the rapture. I'm a bit bummed by that but I am thinking my dad's funeral Monday will be maybe one last time some of my family will hear the gospel before the very very soon rapture. This could be therir escape from the wrath that is soon coming upon this world and while we are sad tonight my grief is subdued knowing I will be seeing dad again very very soon!!! He got a jump on us by seeing Jesus face to face this morning at 11:05 AM!!!
                        Very sorry for your loss, but very happy for your daddy.WV, my daddy passed away last year and as a direct result my baby brother got saved. Praise God!! And we will all be together soon for all eternity. I will pray for your family.
                        John 1:29 Behold the Lamb of God, who takes away the sin of the world


                        Revelation22:17 Both the Spirit and the bride say, "Come!"

                        Comment


                        • #13
                          What Jamie Dimon Doesn’t Know Is Plain Scary

                          Could Jamie Dimon really be as clueless as he sounded on the phone yesterday?

                          Last month, after Bloomberg News broke the story that JPMorgan Chase & Co. (JPM)’s chief investment office had, in essence, become a ticking time bomb, Dimon, the bank’s chief executive officer, called the press coverage “a complete tempest in a teapot.” That explanation no longer works.

                          Yesterday, Dimon changed tacks. Losses on the investment office’s “synthetic credit portfolio” had reached $2 billion so far this quarter, though he refused to give any meaningful details on how that had happened. Presumably, these are derivatives of some sort, but even that basic fact was too much for the bank to specify.

                          What Dimon lacked in information, he more than made up for in assigning blame -- to himself and JPMorgan employees. “There are many errors, sloppiness and bad judgment,” he said, as JPMorgan’s stock sank in after-hours trading. “These were egregious mistakes. They were self-inflicted.” He called himself and his colleagues “stupid.”

                          But there is more to it than that. Either Dimon misled the public about the gravity of the festering trades during his company’s first-quarter earnings call last month. Or he didn’t know what was happening inside the bowels of his own company. History tells us the latter is the norm for Wall Street bosses, though it’s hard to say which is worse.

                          Don’t bother asking JPMorgan how it accumulated all these losses. That information is proprietary, as if the taxpayers who bailed out the bank in 2008 don’t have any business knowing. Here’s an idea for a new rule: If a too-big-to-fail bank can’t disclose what its trading desk is doing for fear of blowing itself up, then the bank shouldn’t be allowed to do it.

                          It’s not often that a huge company calls an emergency teleconference on short notice to discuss an intra-quarter trading loss that’s equivalent to only 1 percent of shareholder equity. So when a Deutsche Bank AG stock analyst named Matt O’Connor asked Dimon why the company had disclosed it at all, the answer was bound to be revealing.

                          “It could get worse, and it’s going to go on for a little bit unfortunately,” Dimon replied. The meaning was clear. Worse could mean disastrous.
                          http://www.bloomberg.com/news/2012-0...ain-scary.html

                          This last part of the cited section of the article has my interest. How much worse and how deep is the loss that is finally to be realized? Clearly the coming days and weeks will show.
                          sigpic

                          Luke 21:28

                          "Now when these things begin to happen, look up and lift up your heads, because your redemption draws near"

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                          • #14
                            Remember the wicked servant who buried his talent and gave it back with zero accrual when called to account? The sad thing is, he did better than J.P. (Just Pathetic) Morgan.

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                            • #15
                              Sad to say that 2 billion is a drop in the bucket compared to the debt this country is in.

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