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Bear Stearns

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    Bear Stearns

    Being brought by JP Morgan for $2 a share
    "You’re just a bad memory who doesn’t know when to go away" JR

    #2
    Originally posted by SueEllen View Post
    Being brought by JP Morgan for $2 a share
    Really?!?....seems low, even considering the toxicity of their holdings.

    Do you have a link?

    Comment


      #3
      Originally posted by Fortune Green
      JPMorgan Chase & Co. said the $2 a share, all-stock deal has received the required approvals from the federal government and the Federal Reserve. Bear Stearns shares close Friday at $30 a share.
      Nasty...shareholders won't be happy.


      Seems the fed cut bank interest rates today as well...this is getting ugly,

      http://www.bloomberg.com/apps/news?p...EW0&refer=home
      Last edited by max; 16 March 2008, 23:51.

      Comment


        #4
        Originally posted by max View Post
        Really?!?....seems low, even considering the toxicity of their holdings.

        Do you have a link?
        Was watching BBC News 24 when I posted so I didn't actually have a link as it was a News Flash. Luckily others have posted one for me.
        "You’re just a bad memory who doesn’t know when to go away" JR

        Comment


          #5
          Looks like JP Morgan is some kind of in-bed-partner with the Fed

          Comment


            #6
            Originally posted by AtW View Post
            Looks like JP Morgan is some kind of in-bed-partner with the Fed
            Fed's anyone's now

            Comment


              #7
              When a bank with like 300 bln of "assets" is bought for less than 300 mln it means it was practically worthless...

              Comment


                #8
                Originally posted by AtW View Post
                Looks like JP Morgan is some kind of in-bed-partner with the Fed
                Interesting how the fed works these things - LTCM in 98 was same thing. Fed arranged lifeboat, but other companies built it/operated it.

                I guess the Fed don't want to own banks?

                Comment


                  #9
                  Originally posted by AtW View Post
                  Looks like JP Morgan is some kind of in-bed-partner with the Fed
                  That's how it used to work in the UK before the EU came along and made such back-door arrangements impossible.

                  Whilst there has never been a shotgun marriage of Banks this size in the UK, there has certainly been many arrangements of takeovers of much smaller concerns.

                  tim

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