To give you a snapshot idea of just how grave the situation was yesterday, JPMorgan Chase, the largest federally-insured bank in the U.S. which also holds tens of trillions of dollars of derivatives, fell by a larger percentage yesterday than on September 15, 2008 – the day that Lehman Brothers filed bankruptcy at the height of the 2008 financial crisis. JPMorgan Chase fell 13.55 percent yesterday versus just 10.13 percent on September 15, 2008.
