More on The Federal Reserve's St. Patrick's Day Massacre (The Bear Stearns Takeover)

RedState ^ | Mar. 29, 2008 7:16am | blackhedd

[bjs1779]

I already did. I'm sorry that you still don't understand. Ask me a specific question and I'll answer it.

Oh I know you will answer it, without a source that is.

[Toddsterpatriot]

JPMorgan to buy Bear for $2 a share

[palmer]

That story does not show that Bear officers agreed, only that one Bear officer offered his lukewarm verbal support.

[Toddsterpatriot]

Which were mostly bought with money printed by the Treasury.

No. With computer bits. The Fed doesn't send a truckload of cash to a Primary Dealer when they buy bonds.

It's pointless to argue whether they are using newly printed money or previously printed money to fund the LLC.

Wrong. You claimed that they printed new money and would increase the money supply.

If they sell bonds in inventory or use cash from their bonds as they mature, that would not increase the money supply. You can say it's pointless, but it is an important difference.

[bjs1779]

Looks like you are stuck in a can of worms agian.

"The Fed will provide special financing to JPMorgan Chase for the deal, JPMorgan Chase said. The central bank has agreed to fund up to $30 billion of Bear Stearns' less liquid assets."

[Toddsterpatriot]

Please. You think JP Morgan would announce the purchase without the agreement of Bear's officers?

I laugh in your general direction.

[Toddsterpatriot]

Please explain how I am stuck? Thanks.

[bjs1779]

Please. You think JP Morgan would announce the purchase without the agreement of Bear's officers?

I thought the stockholders owned Bear Stearns.

[Toddsterpatriot]

I thought the stockholders owned Bear Stearns.

They do. That's why JPM boosted the bid to $10. Just because the officers agree doesn't mean the owners don't get to vote.

I'm glad I can explain the simplest things to you. Any other silly questions you'd like to ask?

[palmer]

Your French friends picture broke the FR server. I don’t see any evidence that Bear’s officers approved the deal in that article, just one lukewarm statement that didn’t explicitly recommend anything.

[Toddsterpatriot]

JPMorgan to buy Bear Stearns for $2 a share

[dennisw]

btttt

[bjs1779]

“JPMorgan to buy Bear Stearns for $2 a share”

Guess I missed it. Where did I see the shareholders agreeing to that? For that matter, where is management agreeing to that?

[Toddsterpatriot]

Where did I see the shareholders agreeing to that?

The shareholders didn't agree. They haven't voted yet.

For that matter, where is management agreeing to that?

Bear Stearns, facing collapse because of the U.S. mortgage crisis, agreed Sunday evening to be bought by JPMorgan Chase for a bargain-basement price of less than $250 million, the two companies announced.

You know there isn't a guy named Bear Stearns, right? LOL!

[bjs1779]

Bear Stearns, facing collapse because of the U.S. mortgage crisis, agreed Sunday evening to be bought by JPMorgan Chase for a bargain-basement price of less than $250 million, the two companies announced.

But I thought there wasn't a mortgage crisis? According to you and your merry band.

[Toddsterpatriot]

You'll have to show where I said any such thing.

[bjs1779]

You'll have to show where I said any such thing.

Actually, you really don't say anything. I won't call you "stupid" though like you do to everyone else. : )

[Toddsterpatriot]

Just because I keep correcting your errors doesn't make you stupid.

[VegasCowboy]

Great article. Thanks.

[VegasCowboy]

What happened to the “little guy bailing out the fatcat” meme?

Don't worry. It will continue unabated.