I'd hate to see all the anger about the "old boys" club on Wall Street taken out on JPM. Remember the buy of 55,000 out-of-the-money Bear Stearns puts with just a few days til expiration? This stuff definitely happens - but the lynch mob is larger now than it was when Bear happened. http://online.wsj.com/article/SB100...43657457202.html?mod=WSJ_hpp_MIDDLETopStories
A bankruptcy-court examiner found in a recent report that Lehman could pursue a legal claim against J.P. Morgan for making "excessive collateral requests," I like that. What is an "excessive collateral requests," ????? Uhmnnn. say we go from 40 -1 down to 20 -1 think that's excessive? Oh sorry, we go from 40-1 down to 10 -1, is that excessive? How about this, your paper is worth shit and so is mine now. Ehhh. Excessive collateral request. probably a whole new ballgame. Maybe we'll all get a free ride on a margin call (if it's excessive), ya think?