JPM Privately Panicking Over Muni’s: Unfunded Pension Liabilities Now $4 TRILLION!
June 19th, 2012
JP Morgan has released a confidential report to important clients regarding their concern over the ‘huge ticking time-bombs’ of the unfunded pension crisis, which JPM states is likely $4 TRILLION.
JPM states that ‘many of the real liabilities are located “off balance sheet,” hidden from the public’s eye‘.
Now who do you supposed assisted towns and cities across America in hiding their true liabilities off the balance sheets using complex derivatives?
That’s right, banks like JPM and The Vampire Squid, who infamously assisted Greece in hiding their true debt from the EU.
Meredith Whitney will be proven 100% correct in due time.
While the Senate Banking Committee last week spun its wheels trying to get JP Morgan chief Jamie Dimon to admit to something nefarious during testimony about his “London Whale” trading loss, executives at the big bank were concealing a far bigger scandal…