JPMorgan takes a subprime hit

Well, well, well...JPMorgan has awoken to a subprime headache. US1,3 billion dollar headache in fact. Small potatoes, some say. Just wait, 18Brumaire replies. This is just the tip of the iceberg. All JPMorgan's subprime chickens have come home to roost. Wait for the collapse of the looney tune alt-A mortgage in California that JPMorgan is trying to sweep under the carpet. Rumour has it, Jaime Dimon's outfit is in the subprime market debt to us$300bn. Now, that ain't hay!