Socrates Berlin – 3rd Greek Balsahout Imminent? Greece Set To Default On Foreign Law Bonds May 15th – 2 April 2012

 

 

Deja-vu of deja-vu all over again? Bloomberg reports:
Greek foreign bond holders have rejected any restructure talks- meaning $11.5 billion in foreign law Greek bonds are currently set to default on May 15th.
QE will continue to Infinity…AND BEYOND!!!

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Socrates Berlin – Report – JPM Received $200 Million Margin Call 3 Days Prior To MFG Bankruptcy – 27 March 2012

 

 

Breaking reports state that JP Morgan received a $200 million margin call on London’s LIFFE exchange 3 days prior to the MFG Bankruptcy over naked euro put options.  The margin call came when the Dallas Fed refused to offer JPM a line of credit due to JPM’s use of TARP funds to write euro derivatives.  The report alleges that a panicked Jamie Dimon called Tim Geithner, Ben Bernanke, and Gary Gensler demanding the problem be taken care of and within the hour, the CME re-issued the $200 million margin call to the counter-party on the derivatives trade (MF Global), and the rest is history.

Socrates Berlin – James Murdoch Steps Down At New International – 29 February 2012

James Murdoch is to step down as executive chairman of News International, it was announced today.

Parent company News Corporation said in a statement the move would allow him to focus on expanding the company’s international TV businesses.