DJIA dow jones industrials

To be fair, the JPMorgan takeover guaranteed all deposits, the...

  1. 334 Posts.
    To be fair, the JPMorgan takeover guaranteed all deposits, the shareholders were wiped, as they should, just watching cnbc and from what I can work out its a good result, don't forget JPM have to take on all the sub prime debt, home equity loans etc, they are taking a lot of toxic debt on and what has been prevented is a run on a bank, Wachovia is next.
    But is there enough banks to take on all the bad ones?
    Interesting that our own Reserve bank has formulated a plan in case one of our own banks is insolvent, wonder which one that might be, I know at least one has a lot of exposure to US debt.
    Watching this unfold is scary stuff, hardened wall st traders are in panic mode atm.
 
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