Moral Hazard! (falls on deaf ears at the fed)
Looks like the Bald Avenger and the Chrome Crusader really know what they’re doing in this no-billionaire-left-behind economy.
I told folks at the time this was going on.. no one wanted to listen...
Fed is selling the country down the tubes so Billionaires won’t have their bentley’s repo’d. The great American experiment is over.
So when do we as taxpayers get our shares of JPMorganChase?
Bear Stearns committed suicide. The only way to save millions of investors — many having no dealings with Bear Stearns — from getting royally screwed to the tune of many many many billions of dollars, was to quickly announce a deal to sell it, BEFORE the Asian markets opened on the morning of Marhc 17. There were no other takers. I’m not interested in hearing any whining from any party about JPM having gotten a sweetheart deal from the Fed, unless that party can provide solid evidence that it made a viable competing offer to Bear and the Fed before noon on March 16.