Were these JP Morgan trades two-sided?

[cthulu2016]

Did someone else (in aggregate) get the $2 billion or did it go to money heaven?

("Money heaven is where imaginary money goes when stocks decline. Say CorpCo has 1 million shares of stock outstanding. The last guy who bought a share paid $10. So the company is "worth" $10 million. But if you dumped a million shares on the market they would sell for a lot less than $10 each, so the $10 million market cap is not real money at the time. When the stock drops t $5/share then $5 million of value has gone to money heaven, because nobody anywhere got the money.)

If a bank lost $2 billion because consumers defaulted on $2 billion of credit card debt that would be de facto stimulus, not disaster.

But if a bank losses $2 billion in some derivative scam where the $2 billion is "value," and was never real money, it's different.

Put betting $2 billion in cash and losing is a two-sided transaction.

Did JPM actually put $2 billion of money somewhere and then have it evaporate? And if so, who got it? (I hope it was me... haven't checked the mail.)

[dems_rightnow]

1. When they purchased the investments...

..... somebody who sold them the investments got the billions.

[cthulu2016]

2. Then I guess they're still in the world economy somewhere

[BumRushDaShow]

3. One wonders if Goldman Sachs is on the other end of that deal

(I keep waiting for that shoe to maybe drop... ))