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U.S. Banks Aren’t Nearly Ready for Coming European Crisis
Simon Johnson
06/24/2012
www.bloomberg.com
“…[I]n recently released highlights from its so-called living will, JPMorgan Chase & Co. revealed that $50 billion in losses could hypothetically bring down the bank… JPMorgan’s balance sheet using the European method…[is]…closer to $4 trillion…What are the odds that JPMorgan would lose no more than $50 billion on assets of $4 trillion…”
The euro [...]
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