JP Morgan's "Unicorn Hedge" Fairy Tale Harpoons the London Whale!

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Welcome to Capital Account. From Whale Tails to Unicorn Fairytales, this week has ended with a bigger splash then anyone could have expected. The London Whale has officially capsized JP Morgan's balance sheet with a reportedly 2 billion dollar trading loss. Jamie Dimon, the firm's CEO, admitted "egregious mistakes" were made and that he and his colleagues were "stupid." Fair enough, but why were these mistakes made, and was this trade a legitimate hedge as Jamie Dimon claims, or more of a "unicorn hedge" as our guest Heidi N. Moore called it? Why was this trade put on through the company's CIO, and why was it done so on a portfolio level? That's an awfully broad way to hedge risk on the titanic. What happens with this ship finally tries to make it back to port? JP Morgan now has tremendous exposure on its balance sheet that, if it were to try and unwind, may not find too many friendly buyers.

Also, what does this recent hole on the side of Jamie's ship say about risk management on wall street? JP Morgan and it's captain Jamie Dimon have been the darlings of wall street. His firm weathered the financial crisis in 2008 without so much as a hiccup, using it as an opportunity to buy up rival Bear Sterns for pennies on the dollar. But will this latest torpedo to JP Morgan's balance sheet provide further ammunition to those calling for stricter and tighter regulations of wall street firms that make risky bets with depositors' money? Is this the time for the public to pay closer attention than ever before to legislative efforts like those surrounding the Volcker Rule or are too big to fail banks going to continue to make proprietary bets with our money until all of us go broke? We speak with members of Occupy Wall Street, including Alexis Goldstein and Brett Goldberg during the second half of our show. Besides their fantastic work on the Volcker Rule, they have been active in trying to help put some teeth into President Barack Obama's "mortgage financial fraud task force." We speak to them about their efforts in this regard as well.

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  News & Politics

[EPICELEET]

I'M GIVING YOU THE HEADS-UP:

0% CHANCE TAKE ANY JOB (ESPECIALLY WITH THIS ILLEGAL MONITORING)

10% A virginia tech/dorner REACTION

90% SUICIDE

THAT 10% IS NOT A 10% I'D BE WILLING TO ROLL THE DICE WITH

THEN U GOT THE 90%

4/3 START HITTING CREDIT SCORE

STILL WAITING ON ARRESTS

WAITING ON THIS 4+ / 7+ YEAR PAYCHECK

[EPICELEET]

Y THE LAST OPTION

AND THIS CASE WILL HAVE MANY MANY MANY IMPLICATIONS OF NAMES

INCLUDING 38+ WAIST maria bartiromo, jamie dimon, hillary clinton, midget tiny little small person mike bloomberg, hundreds of telerpotmepr readers, jamie chase bank, ETC. ETC.

OH YEAH, AND THE SMALL 2-INCH ERECT PENIS SIZED korean telerpotmeprr eaders AND THE ULTRA-NERDY BRAINDEAD "nida. nida. nida. semnida. semnida." 16-YEAROLD WHITE GIRL BODIES OVER THERE TOO

[EPICELEET]

WHEN THE HISTORY BOOKS ARE WRITTEN, YOU'LL SEE THE '2007 GLOBAL ECONOMIC CRISIS'

AND U'LL SEE A DEBATE BETWEEN REGULATIONS AND ANTI-REGULATIONS

THE FACE OF ANTI-REGULATIONS? jamie dimon

THE NEXT PARAGRAPH? 'THE LONDON WHALE'

FOLLOWED BY jamie dimon GETTING WRITTEN UP

A LEGIT 'chris dorner' WON'T HELP HIM, EITHER

IF 'AT THAT POINT', AND NOT OVER 95% SURE THAT MG-C WILL GIVE RISE TO ARRESTS OF THE HUNDREDS OF telerptoemrpr eaders, jamie dimon, chuck schumer, midget mike, ETC.

THEN MGE-B IS REALL

[6510stevebro]

They posted a 4.8 billion dollar profit for the same quater and 5 billion the quarter before. Ooo they lost money in trades sheeple

[ironjamesvane]

Jp morgan prevented nikola tesla from giving the world free electricity for ever. 100 years ago. Look it up

[ironjamesvane]

Racest

[Angel Jibraeel]

Jews are Devil's little Helpers!

[Angel Jibraeel]

USA will never loose from outside but will be destroyed by International Bankers and Corporations from Inside for Sure, It is Matter of time! Economic Collapse you will see in your life time!

[Angel Jibraeel]

2 Billion is peanuts for them and the loose money when they want it........They are going to destroy whole Human Civilization because they have Power to do it!