Epstein Secrets

Gold $1570.70 (+$5.20) Moody's announced its widely anticipated downgrade of 15 global banks after the close last night. No big surprises although Credit Suisse getting cut by 3 notches and MS only getting cut by 2 getting some attention in the press (note CS is still the highest rated IB in the world & a 2

he stricken euro Telegraph<http://www.telegraph.co.uk/finance/financialcrisis/9348292/IMF-unveils-its- blueprint-to-salvage-the-stricken-euro.html> Lagarde hopes that wisdom will prevail in Germany The Times<http://www.thetimes.co.uk/tto/business/economics/article3453119.ece> Mario Monti: we have a wee

.CEP .031 0 1 Nc03 4.5efr t VP& cit e tpp0/4\2 ; 044984 \f) s44 -cs 0 0 Source: Estrretes based on Thomson Reuters. Credit Suisse HOLT, Credit Suisse research 3 EFTA_R 1_02039968 EFTA02694022 Eye on the Market I September 25, 2011 J.P Morgan Topics: A note from the European Banking Authorit

re 10x-20x higher than the EBA's estimate; buy side estimates we have seen are 40x-50x higher. The IMF mentioned 200 billion Euros, but IMF Director Lagarde appears to have backed down from this due to the controversy it created (she now says such estimates were "tentative"). She has good company. howeve

031 0 1 4 54:3 4.5efrs44 -cs 0 &Sec% t VP& cit e •P,344\2;10493.1 \f) 0 Source: Estrretes based on Thomson Reuters. Credit Suisse HOLT, Credit Suisse research 3 EFTA_R1_02039981 EFTA02694033 Eye on the Market I September 25, 2011 J.P Morgan Topics: A note from the European Banking Authority

re 10x-20x higher than the EBA's estimate; buy side estimates we have seen are 40x-50x higher. The IMF mentioned 200 billion Euros, but IMF Director Lagarde appears to have backed down from this due to the controversy it created (she now says such estimates were "tentative"). She has good company. howeve