From: Jeffrey Epstein <[email protected]> Sent: Friday, May 8, 2009 7:47 PM To: Jes Staley Subject: Re: Fw: you must read this great On Fri, May 8, 2009 at 3:37 PM, Jes=Staley < < > wrote: A must read. From: Seth P. Bernstein To: les Staley Sent: Fri May 08 15:29:44 2009 Subject: Fw: you must r=ad this Seth P. Bernstein JPMorgan Asset Management 245 Park Avenue, 5th Floor New York, NY 10167 Email: < Phone: Fax: Forwarded by Seth P. Bernstein/JPM=HASE on 05/08/2009 03:29 PM Michael Cembalest/JPMCHASE 05/08/2009 09:37 AM To EFTA_R1_01663894 EFTA02524630

<=1, < CC <=r> Subject you must read this Yea though I walk through the Valley of the Shadow of =ebt I shall fear no default rates;for thou art with me Thy printing presses and stress tests comfort me Thou preparest a bull market for me in the presence of Roubini, Taleb and G=ant Thou annointest my portfolio with liquidity; my wallet runneth over Surely bonuses and bailouts shall follow me all the days of my life And I will dwell in the house in Greenwich forever. This email is confidential and subject to important disclaimers and conditi=ns including on offers for the purchase or sale of securities, accuracy an= completeness of information, viruses, confidentiality, legal privilege, a=d legal entity disclaimers, available at http://www.jpmorgan.com/pages/=isclosures/email chttp://www.jpmorgan.co=/pages/disclosures/email> . 2 EFTA_R1_01663895 EFTA02524631