Seems to me that JP Morgan and Buddies were getting prepared for this very eventuallity last Summer (2007).
Thus, where is the Surprise here.
Sprott may not like it but neither will many others who were Shorting the Sh!t out of several of these Investment Banks and loading up on Commodity Hedges as their Double Wammy strategy. Well, here is for hoping the Commodities part works out for all those LONG on them and NOT!!!
Otherwise, WHAT HAS JP Morgan BEEN DOING FOR US? (recall all the hoots and howls about that??? !!!)
Old Joe
PS: Why would any of us be surprised with what is happening right now? Si it NOT a big part of why many of us got into NOT??? After all we all did out DD, Did we NOT!!!!!! !! !