Bear Stearns was operating with $11.8 billion of equity to support $383.6 billion of leveraged assets. A leverage ratio of 32.5 to 1. This implied that a 3% change in the value of the loans held by Bear Stearns would wipe them out. It did. Despite CNBC’s Jim Cramer reassuring investors that Bear was safe just a week prior, the firm collapsed, prompting a dramatic intervention by the Fed to broker a deal with JPMorgan (JPM).

The fucker Jamie Diamond - always has his fingers in the pie and under age children- pedophile! Epsteins banker!

#bitcoin #freedom