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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: XBrit who wrote (31196)10/25/2000 2:16:49 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
yep...and the JPM derivatives head honcho resigned concurrently.

i have heard via rumor mill that Deutsche was dissuaded by the BuBa...perhaps JPM needed bailing out, and the German's said 'leave them to i...let a US institution bail them out'

of course that's mere speculation...also, JPM's profits seemed o.k. - if they had any losses to hide, they did so very effectively.

fact is, the notional value of their derivatives is almost 900% of their equity capital...and 30% of their profits are derived from proprietary directional trading. a dangerous combination.
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