BAILOUT POSTER BOY
Dimon begins speaking at the 50 second mark.
"The liquidity of JPM is extraordinary."
JPMorgan earnings were released this morning. Apparently their liquidity wasn't good enough to pass the Bailout Test from either the FDIC or the Fed. The only extraordinary thing about JPM in the last 10 years is how Dimon persuaded Bernanke to subsidize the Bear Stearns takeover, and the billions they made selling toxic MBS to the Fed (at 100 cents on the dollar) under the malevolent disguise of QE.