• Clusterfuck Nation: Dancing Shoes

• Irish Banks Need Billions in Second Bailout, Handelsblatt Says

• Alex Schaefer: Chase Burning, Figueroa and 7th

• Turk: Important Chart Suggests Massive Move for Silver & Gold

• New York Cop Threatens to Rape Citizen With Gun

• Harvey Keitel gives two girls a warning in “Bad Lieutenant”

just finished a conversation with Turd Ferguson

he did the interview with me on May 11th where we broke open the story

that the JPM losses extended from huge Interest Rate Swap damage

I directly gave Rob Kirby attribution

the Wall Street Journal now quotes Dimon mentioning Delta-Hedge

and usage on the Interest Rate Swap complex (confirmation!!!)

well, Ferguson has come up with a simple deduction

the New York Fed as part of their shoddy Bank Stress Tests,

made a conclusion (directive) that JPM would have to suspend

their stock buyback and dividend payouts

IF THEIR DERIVATIVE LOSSES EXCEEDED $31.5 BILLION

JPMorgan just announced no more stock buybank or dividends

although not a necessary & sufficient condition of the outsized losses,

we have an indication of over $31.5 billion in losses

it will all come out gradually

/ JWCB

• What Did JPMorgan Execs Know and When Did They Know It?

• NYTimes: Lyme Disease To Blame For JPM Trading Misstep

New:

• Show trial begins for JP Morgan: Live Webcast Of First (Of Many) JPM Hearing – Honorable Mary Schapiro And Gary Gensler Presiding