Friday, August 10, 2012

Jamie Dimon Just Admitted To The World That JPM's Assets Are Overvalued By $150 Billion

"Under the wipeout scenario JPM describes a $50 billion trading loss turning into a $200 billion loss as soon as the FDIC takes over.  Why... ? Because JPM says they would expect the FDIC to immediately writedown JPM's assets by an additional $150 billion.
 

Jamie Dimon just admitted to the world that JPM is mis-marking assets to the tune of $150 billion.

It gets better. Go to page 10.  The chart shows that they only have $184 billion in equity, minus the $50 billion loss, minus 'the $150 billion fdic reality adjustment', which leaves them in a negative equity position of (-$16 billion).

So, we can extrapolate that without this phantom loss of $50 billion, JPM's real equity position is just $34 billion currently, not the $184 billion on their books."

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