As Jim Sinclair has stated from the beginning,
"What OTC derivatives do not do to the international banking firms, litigation will."
Chris Whalen of Institutional Risk Analytics today stated that JP Morgue has $40-$50 BILLION in class action litigation suits currently HEADED TO TRIAL.
If OTC derivative losses and massive silver short losses do not finish off these scum, litigation will.
So today of the trillion dollars or so in class action claims that were filed right after the crisis started, there’s about $200 billion left that have survived motions to dismiss and other procedural efforts by the banks to knock this litigation out. JP Morgan has somewhere around $45 to $50 billion worth of current claims that look like they are going to go to trial.”
Click here for Chris Whalen's entire interview by KWN:
