Apparently the $30 billion to JPMorgan was non-recourse. That means that Morgan can default, with absolutely no requirement to pay it back.
This situation could go downhill really fast. We could be looking at complete shutdown of the global financial system if this gets out of hand. But damn, I'm making a lot of money.
This situation could go downhill really fast. We could be looking at complete shutdown of the global financial system if this gets out of hand. But damn, I'm making a lot of money.