Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (192801)	9/19/2002 12:45:39 PM
From: Secret_Agent_Man	Respond to of 436258

JPM Do I have a deal for You By James Sinclair I have to share this with you yet, I am obligated to maintain a confidence. Therefore I can only relate to you the main form of what occurred yesterday. Yesterday a friend of mine, as an executive of a significant institution, was approached to make a transaction which although not called a derivative (like last risk bond insurance) was in fact a derivative transaction by representatives of JPM. She asked who was the counter party to this derivative arrangement. The answer was JPM London , a subsidiary of JPM. I advise my friend to ask for a balance sheet of the subsidiary and for a certified statement revealing the total amount of notional value of all derivative to which JPM London, the subsidiary od JPM, is obligated. I also advised that she should request confirmation of the presence, or lack of, an automatic guarantee of payment of trade debts from the parent JPM to the trade creditors of the subsidiary JPM London in case of a financial problem at the subsidiary. I will keep you informed. You need to understand that this huge pile of $72,000,000,000,000.00 of Derivatives Outstanding is a Mountain of Unfinanced Specific Performance Obligations sucked dry of capital via commissions, spreads and bonuses. This is truly the Specter of Economic Death lurking over the World Economic. A collective act of Financial Terrorism that has the potential to eventually kill more people than all the acts of Terrorism since man lived in a cave. This is in my opinion what Warren Buffett was thinking when he called this a pile of SEWAGE!