Bear Stearns Bailed Out by Fed (i.e. bailed out by YOU, the dollar holder)

AP ^

[TonyXL]

The Federal Reserve is printing dollars to bail out a company that made bad financial decisions. As you pay higher prices over the next few years, just remember that YOU are paying for those bad decisions.

[wideawake]

Good thing that Bear Stearns' Chairman, James Cayne, spent two weeks on vacation at a bridge tournament last summer while the bank was losing billions on subprime loan bets.

[cardinal4]

The bailout hasnt done a damn thing to the market-its tanking badly..

[Uncledave]

As you pay higher prices over the next few years

Income taxes aside, this is inflating the currency - bad for anyone who gets paid in dollars.

[Wolfie]

I wonder what he took home in pay last year. Oh well, I guess I can do without as long as he’s fat and happy.

[WilliamofCarmichael]

It’s called capitalism. Thank goodness they’re not extending extra unemployment insurance payments. That’d be socialist!

[HamiltonJay]

Its going to get a LOT worse before it gets better.. the snakes that have created this mess are dilluding themselves and the politicians are too cowardly to stand up and be honest.

We’ll all bail out these miscreants, because they can’t let the rich criminals actually pay for their crimes... come on man, these are NY bankers... they are the elites, they are better than you peasants, now shut up and bail them out.

[wideawake]

I wonder what he took home in pay last year.

$250,000 in salary and a stock option bonus that was worth $17MM when it was awarded, but which is worth approximately $0 at the moment.

[Ghost of Philip Marlowe]

Are you sure the Feds are printing money for this?

Last I heard they are not printing, that any deflation we are suffering is from the dollar falling compared to other currencies.

[dfwgator]

[babble-on]

This isn’t a bailout. Its financing. Bear Stearns shareholders will end up with nothing, as will a lot of their creditors. This financing just allows the recognition of those losses to take place in a less chaotic fashion.

[Cinnamon Girl]

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!

[Man50D]

I was thinking the same thing this morning as they were discussing the bailout. Small business makes up most of the business in the U.S. but the Fed will never bailout Joe Shmoe's business if he is about to go under because of bad business decisions.

Meanwhile the Bush Administration also bails out homeowners who can't pay off their mortgages because they over extended themselves and is going to give millions of people a "tax rebate" that comes from other taxpayers and won't fix the problem in the long run. It's a shell game.

Compounding the problem are the socialists Democrats who are doing everything they can to raise taxes by ending the tax cuts. In the end the taxpayer will get stuck with the bill for the whole mess.

[RC2]

Cut our taxes to bare minimum and they can’t do this. Stop all borrowing from other countries....especially China.

[DuncanWaring]

Is Bear-Stearns the one that a day or two ago said something to the effect of “There is absolutely no truth to any rumors that we are having any difficulty whatsoever”?

[laconic]

Just how many tens of millions of dollars has Mr. Cayne made as head of this failed enterprise and its stupid financial transactions? And just how much is he going to reimburse the taxpayers for bailing his sorry company out while small shops and businesses with good management are left to rot on their own?

[Jack Black]

http://www.freerepublic.com/focus/f-news/1985731/posts

Has all the details, including the $50 million payday the CEO had in November.

[Uncle Miltie]

Betting it all on RED is what people do when it’s other peoples’ money. If you win, you get a huge payout. If you lose, you get your salary, and move on to the next job.

There is not enough down-side risk for the participants when they are betting other people’s money with the leveraged comp plans these people get. They need to have some substantial personal downside to horribly risky bets that go bad.

[Attention Surplus Disorder]

Is Bear-Stearns the one that a day or two ago said something to the effect of “There is absolutely no truth to any rumors that we are having any difficulty whatsoever”?

Quote unquote. Yep.

[Harley]

Isn’t that incredible? And our Congress is more worried about steroid use and not the collapse of our economy.