WOW! I can't imagine how bad it is behind the scenes for JPM to pursue a takeover of BSC even at these discounted prices. That is approximately $5 billion in market capitalization that has evaporated in less than a week, which must be chump change to what the losses would have been had BSC gone belly up.

I would think this all but guarantees 100 point rate reduction on Tuesday and could very well be the trigger point for the juniors as gwr and vhf suggest.