[The_Republican]

Next time people complain about handouts, don’t forget this one.

[spyone]

Well good luck...they have an hour and 14 mins.

[G.Love]

This can’t end well. I really do not want the Federal Reserve brokering buyouts of private sector companies.

[kms61]

JPMC is one of the few financial institutions fairly unscathed by the subprime mess. The question I ask is will they turn Bear Stearns around, or will Bear Stearns drag down Morgan too?

[webschooner]

I guess on a lazy Sunday afternoon with nothin to do, you just get togehter with your buds at work, the mucky-mucks from a multi-billion dollar failing company, and some reps from the Fed gubmint with very deep pockets, and you buy out this injured gorilla with guarantees from da taxpayers, all in time for a late supper.

This blows my mind — I’ve never seen anything like it. These thinkgs usually take months.

[ThePythonicCow]

See also a related (not same) thread: Bear Stearns Closes in on Deal To Sell Itself to J.P. Morgan.

[spyone]

It’s done....$2 per share!!!!!!

[spyone]

$2 PER FRIGGIN SHARE!!!!!

[Capt. Tom]

JPMorgan has been balking at the deal in the absence of guarantees from the Federal Reserve that its liabilities would be limited, people involved in the talks said. JPMorgan was working with the Federal Reserve on Sunday afternoon to hash out exactly what liabilities would be guaranteed, said these people, who insisted on anonymity because they were not authorized to speak publicly about the talks.

Does this mean Joe taxpayer is taking a chance on the buyout? - tom

[spyone]

At the start of the week BSC shares where $65...taken over at $2

[ReleaseTheHounds]

CEO Schwartz (I believe) is probably looking at jail time (whether deserved or not) for having made statements earlier last week that B.S. had no liquidity problems. In the era of SARBOX, you just can’t make statements like that and not face the consequences of criminal liability.

Lot’s of Schadenfreude circulating on Wall Street.

[REDWOOD99]

Oh boy! This NOT good. Any nominations for the next domino?

[Texas Songwriter]

Well, well, well, well, well,.... in the infamous words of Clint Eastwood in "Heartbreak Ridge", Gunny Highway. "Life as you have known it has just ceased to exist."

Let's see, tomorrow......what will happen. If you hold financials, you may want to think twice. I would guess the market down 300 points within the first 15 minutes....where it goes from there I won't be able to observe due to the fact I will have evacuated my colon and be racing to the thrown to access the porcelin chair.

It really is unwinding faster than we might say.

Or should you immediately buy Morgan since it has a get out jail free card by the FED. Morgan Chase might be a quick in and out play, if you have the minerals to step up. I don't. I wonder where gold the PMs will move to.

This is frightening stuff.

$2.00 per share....what a deal.