Tuesday, August 25, 2009
Jamie Dimon on CNBC back in February said JPM has virtually no exposure to CMBS: guess again
*Back in March of this year, I wrote a letter to JPM corporate headquarters, Jamie himself, protesting their increase of my credit card interest rate. I had just heard him coming out of that meeting with Obama on CNBC claim JPM had little exposure to the CMBS market and I thought what a liar. In my letter I accused him of such and demanded a reduction to 8%. I got a response from corporate headquarters, some very nice woman, and they gave me 8.9% for a year. So here we are many months later and lo and behold: not only do they hold CMBS, but they hold the MAJORITY of it.