Every bank traded over the past 2 years like it has exposure to CDS squared, and the multitude of Toxic paper that has borderline paper..
that includes the Regional.... but as analysts talk about the "Risk" from just mom and pop mortgages, etc..... it just seems silly to me that that risk is higher than they have traded with the notion of exposure to all that Shit paper....
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Tuesday, May 27, 2008
bank Thesis
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