- 680
- 10
- Joined
- Aug 2, 2006
Not me but all the burnt shareholders, and players with power positions receiving a measly $2/share calling up Frukwan of thegravediggaz
at 1 800 SUICIDE but hearing nothing but a busy signal,
at 1 800 SUICIDE but hearing nothing but a busy signal,
March 16, 2008 7:52 PM EDT
The deal calls for J.P. Morgan (NYSE: JPM) to pay $2 a share in a stock-swap transaction, with J.P. Morgan Chase exchanging 0.05473 share of its common stock for each Bear Stearns (NYSE: BSC) share. JP Morgan and Bear Stearns have approved the transaction, which values Bear Stearns at just $236 million. At Friday's close, Bear Stearns's market value was about $3.54 billion.
Government regulators, including the Federal Reserve and the Office of the Comptroller of the Currency, have given their blessing to the transaction.
"Bear Stearns lost half of its value within 30 minutes of the market open." AP
"Federal Reserve Bank of New York agreed to provide financing to Bear Stearns"
"But what happened in 24 hours that they didn't know 24 hours ago? But overnight, the company needed a governmentbail out," -Tom Sowanick
"If you want to know what the brink of disaster looks like at a major financial institution, this is it." JonOgg
"This morning, Bear Stearns announced a bailout from the New York Fed and JPMorgan. In its release, Bear Stearns notedtheir liquidity position in the last 24 hours had significantly deteriorated. The company cited a multitude of market rumors regarding the liquidity, which thecompany said it was unable to dispel."
im not an expert, banker, economist etc etc. but can the gov do this action in a capital market, well the ny fed bank is a private co.
alot of people lost money
should have liquidated my positions on wed. another bloodbath