[seldom_seen]

Wow. I wonder what $2.00/share gets JP...some computers and office furniture...a few coffee makers and some office space?

They really went butts up.

Of course they didn't "fail" though because they were bought out (on a sunday). crazy.

[eastbay]

JP Morgan is taking immediate responsibility for Bear's trading obligations and assuming "management oversight" of the firm's operations.

I don't like the looks of this development one bit.

[DantesPeak]

BS is bankrupt and the Fed is taking up some of its losses so what remains can be passed onto JPM, which will make it look like a takeover.

Perhaps more alarming is that if BS is bankrupt, what about companies such as Countrywide - and other Wall Street firms?

[Iaato]

$this->bbcode_second_pass_quote('seldom_seen', 'W')ow. I wonder what $2.00/share gets JP...some computers and office furniture...a few coffee makers and some office space?

[jasonraymondson]

I just don't understand the whole shtick. Long run, what is the benefit?

[firestarter]

This is fucking incredible--two dollars a share! The Fed is also backstopping JPM to the tune of $30 bil in non recourse funding.

I imagine the rest of the world will be working with the Fed to temper the blow. No matter what they coordinate, this will go down as the biggest single catalyst for financial Armageddon.

WOW!

[eastbay]

No, is incredible!!!

Employees own 33% of Bear Stearns. This is incredible news. Thousands of people just got wiped out. Poof!

With the FED pulling the rug out on a Sunday (!!) I can't help but believe this is only the tip of the iceberg. Asian markets aren't liking the sound of this one bit either. The dollar will really feel this one.

[firestarter]

There's going to be a lot of suicides in the coming days.

[Homesteader]

said E. William Stone, who oversees $77 billion as chief investment strategist at PNC Wealth Management in Philadelphia. ``The longer-term thesis is that the Fed won't let good companies fail based on lack of liquidity and a crisis of confidence.''

Huh? Is BS now the case study for how to manage a financial?

[Plantagenet]

$this->bbcode_second_pass_quote('DantesPeak', 'B')S is bankrupt and the Fed is taking up some of its losses so what remains can be passed onto JPM, which will make it look like a takeover.

Perhaps more alarming is that if BS is bankrupt, what about companies such as Countrywide - and other Wall Street firms?

[Chesire]

$this->bbcode_second_pass_quote('firestarter', 'T')here's going to be a lot of suicides in the coming days.

[Iaato]

$this->bbcode_second_pass_quote('jasonraymondson', 'I') just don't understand the whole shtick. Long run, what is the benefit?

[Revi]

This is really strange. Has anything like this ever happened before? Why on a Sunday?

Will there be more financial turmoil next week?

Will it spill over onto main street? How?

[Novus]

It was done on a Sunday so the rich could get theirs as they are too well connected to eat a 97% loss and everyone else is left holding the bag. It is time to get out of the market no matter what company has your 401k or pension. Buy gold, silver, Euros, and yen and get away from this abyss.

[Homesteader]

$this->bbcode_second_pass_quote('Iaato', '')$this->bbcode_second_pass_quote('jasonraymondson', 'I') just don't understand the whole shtick. Long run, what is the benefit?

[ki11ercane]

JPMorgan says it will buy ailing Bear Stearns.

http://www.ctv.ca/servlet/ArticleNews/s ... TopStories

Wow, their shares were trading at $30.00 Friday, and they we're bought for $2.00 per share.

Too bad, I would have liked to have actually "seen" a bank run.

[dinopello]

$this->bbcode_second_pass_quote('ki11ercane', 'J')PMorgan says it will buy ailing Bear Stearns.

http://www.ctv.ca/servlet/ArticleNews/s ... TopStories

Wow, their shares were trading at $30.00 Friday, and they we're bought for $2.00 per share.

Too bad, I would have liked to have actually "seen" a bank run.

[PopeGideon]

1 - You should change the title to include the meat of your post.

2 - This is big because it's the first time we get to see a value put on all the nuclear waste that's been piling up at the banks - you know, the crap backed with sub-prime mortgages.

The value is zero.

[Mechler]

$this->bbcode_second_pass_quote('Homesteader', '
') JPM goes back a long way with the International Bankers, yes?

[mmasters]

Rothschilds, Rockefellers own JP Morgan through various arrangements. I think the Windsors may have a part in it too.

Anyway, they did it today so the market couldnt' react and that they could put a positive spin on it when the market opens.