The news from JP Morgan gets worse by the day, and it is becoming eerily similar to what happened with Bear Stearns in 2007. The question is, will there be the same outcome? Before you laugh off the question, ponder the implications. There is still an untold nominal value of trades sitting out there that JPM is responsible for, in an illiquid CDS market, with hundreds of specialty hedge fund vultures circling around the wounded JPM. The $2 Billion loss is likely to increase to $4 Billion or even more, and then when you look at the impact on JPMs corporate bonds and their stock price, things can begin to spiral out of control. We call on Jaime Dimon to step down immediately so JPM will not become the next Bear Stearns and drag the rest of the market into oblivion.