It is a put option granted by the Fed to J.P. Morgan on a basket of toxic securities. (hussmanfunds.com)
The list includes $ 13 billion paid for toxic securities abuses in 2013, as the bank overstated the quality of mortgages it was selling to investors in the run - up to the financial crisis. (rt.com)
After lobbying hard and eventually winning approval of a plan centered on having the government purchase toxic securities from banks, Paulson instead used the first round of bailout funds to buy preferred equity in financial institutions. (nreionline.com)