Bear Stearns bailout

[vespax]

Watch the markets today.

Morgan Chase bank just completed the purcahse of Bear Stearns last night for $2 a share.

Bear Stearns had a stock-market value of about $3.5 billion as of Friday -- and was worth $20 billion in January 2007. But the crisis of confidence that swept the firm and fueled a customer exodus in recent days left Bear Stearns with a horrible choice: sell the firm -- at any price -- to a big bank willing to assume its trading obligations or file for bankruptcy.

Wall Street Journal

It is going to get exciting this week. Who will be next?

 

[vespax]

Here's another thought...

The S&P 500 index of financial stocks has already lost one fifth of its value this year and shares in many investment and commercial banks, such as Citigroup, Morgan Stanley and Lehman Brothers have shouldered even bigger losses.

Financial Times

 

[Phenom]

It is going to get exciting this week. Who will be next?

should we trade off of these? got quite a fright on friday

 

[vespax]

Was a big move. And the financial reporting season is just starting... The bull has its balls tied up and the ride is going to get bumpy.

 

[Alan]

Fasten your seat belts