Ferguson: JP Morgan Buyback Suspension Could Mean More Than $31.5 bln Losses

Notes passed on below by "The Jackass" himself (goldenjackass.com)

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
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
/ jim