As well as: $16B in CMBS $15B in Prime Alt-A $2B in Subprime ____________________ $33 Billion This is why the FED came in via JP Morgan to help Bear out! Some of the people don't realize that. They also don't realize that JP Morgan will be incurring something like $6 BILLION in expenses regarding "winding-down" Bear and its broker/dealer positions. That's why the price was for $220 million.
Still... JPM up 9.5%, market is clearly trading as if they got handed a bone for free here by the Fed with a lot of good meat on it.