Bears Stearn Acquired By JP Morgan for $2/share!!!
 

Bears Stearn is no more. JP Morgan bailed them out on Friday with the Feds help but has, today, acquired Bears Stearn for $2/share. The Fed has approved. The boards at Bears Stearn and JP Morgan have approved it.

Bears Stearn 52 week high $159
Opened Friday @ $57 closed @ $30
Company sold today for $2/share

wow,some people have took a big hit with that I bet ! whos next? :(


JPMorgan Chase said Sunday it will acquire rival Bear Stearns for a bargain-basement $236.2 million -- or $2 a share -- a stunning collapse for one of the world's largest and most storied investment banks.

HOLY SHIT!!!!

That is the deal of the century!!

They put themselves in that mess

There is no reason for the Fed to bail them out.

Here is a good reason why..
http://globaleconomicanalysis.blogsp...r-stearns.html

they do not need bailing out by the Fed anymore. JP Morgan has acquired them.

the US economy is in a world of mess.

the World Economy is in a world of mess.

This is insanity JP Morgan bought a company that was valued at over $20 Billion dollars a month ago for less than 2% of that.

Its a steal but JPMorgan takes on all the problems from Bear Sterns. What happened was Fed cut a deal with JPMorgan told them to buy it so solves that fiasco otherwise shit would have hit the fan this week

The Fed is going to lend JP Morgan up to $30 Billion to help cover Bear Stearns debt.

".....by also agreeing to lend up to $30 billion to J.P. Morgan Chase to finance illiquid assets inherited from its purchase of Bear Stearns Cos., the Fed is taking on new risks." (from this article - http://online.wsj.com/article/SB1205...ecial_coverage)

Awesome how the taxpayers are paying for their mess.

As I mentioned in another post sold for half the price of adult friend finder :1orglaugh

$236.2 million($2 a share) Penthouse paid $500 million for AFF :)

funny world huh !

Fucking crazy.

check out the home page for Bear Stearns!

http://www.bearstearns.com/

Just think how bad shit must have actually been behind the scenes for the Fed to step and put all this in the works.

Welcome to the " boys " club ....

It would be nice if the public did actually get to know this but the reality of that happening........

pretty amazing huh

What most Americans don't realize is that the Fed is a quasi-private entity ... in that context the Fed's actions of bailing out the firm makes perfect sense - simply taking care of business, as usual.

Ron

Monday seems to be hanging in there for now.....

Did you really think it would happen any other way. That's the new deal in big business.. Lie cheat and scam the consumers..then wait for the fed to bail you out screwing over the tax payers in the process.

Now we have a company taking over that company.. so now it's a giant company that can cause even more damage if they decide to fuck up.

Used to be the govt made companies from new companies so all the eggs weren't in the same basket. You know to keep the economy from taking too big of a hit if something went wrong, or to keep that giant company from becoming a monopoly and owning everything.

form new*

edit for above..

unbelievable, last week, they were trading at 70$/share.. a year ago $159/share.. I knew things were really bad, but this is just insane