The Federal Reserve Wall Street Rubber Stamp Commission (“SEC”) and the Federal Reserve Exclamation Point to Wall Street Rubber Stamp Approvals (“CFTC”) will testify before the Federal Reserve Senate Banking Committee about derivatives regulation and the oversight of Rothshill JP Morgan Chase. Meanwhile, news has emerged that Rothshill Chase’s derivatives trading losses are in upwards of $31.5 billion. That’s a lot more than the initial $2 billion you claimed, Mr. Jamie “I love my muppets” Dimon.

The accessories to conspiracy in the SEC and CFTC are testifying before bought politicians in committee, so expect little to no new information to emerge except some boring explanation to placate you – the only thing worth watching about these hearings on C-Span is for slip ups to occur, basically.

As to the losses, Zerohedge snooped around and was going through the Federal Reserve’s own stress tests of Rothshill JP Morgan Chase held before this debacle. In it, it was found that the Fed would accept $31.5 billion in losses through Q4 2013, else it will be forced to deny all dividends and halt any share buyback programs. Well, guess who was forced to deny all dividends and halt share buyback programs yesterday? You guessed it, The Fed forced the Rothshill to stop. Conclusion? Well, not a hard one to make. Losing that amount in billions, covering it up and having it involve credit and insurance policies in the form of derivatives means the bank is blowing up and not telling you.

Every day the news is bad for JP Morgan Chase. Don’t think of this as a time to worry and toil, rather, think of this as a controlled implosion where you are given sufficient time to prepare.

Story is HERE.