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JPMorgan to buy Bear for $2 a share
Yahoo! News ^
| March 16, 2008
| JOE BEL BRUNO and MADLEN READ
Posted on 03/16/2008 4:35:03 PM PDT by Toddsterpatriot
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To: Toddsterpatriot
Gosh, calling everyone so you “free traders” can celebrate the subsidies the government is handing out to the finance sector? Do you really think printing more money and handing it out to the stock market and financial sector is going to stop the train wreck you “free traders” have caused?
21
posted on
03/16/2008 4:52:09 PM PDT
by
hedgetrimmer
(I'm a billionaire! Thanks WTO and the "free trade" system!--Hu Jintao top 10 worst dictators)
To: jdm
“UK tycoon Joe Lewis loses $800m on Wall Street”
That was based on Friday’s closing stock price of $30 a share. Now he can calculate his losses on a $2 per share price.
22
posted on
03/16/2008 4:52:36 PM PDT
by
Attention Surplus Disorder
(We've checked, and all your zeroes are OK. We're still working on your ones.)
To: Toddsterpatriot
JPMorgan Chase & Co. said the $2 a share, all-stock deal has received the required approvals from the federal government and the Federal Reserve. Bear Stearns shares close Friday at $30 a share. There's the problem. Any company named "Bear" cannot be as good as one named "Bull!" ...should be no surprise whatever in the stock market.
23
posted on
03/16/2008 4:53:57 PM PDT
by
olezip
To: jdm
UK tycoon Joe Lewis loses $800m on Wall Street
Make it $1.9B as of tonight.
24
posted on
03/16/2008 4:54:20 PM PDT
by
jimbo123
To: hedgetrimmer
You think this was caused by free trade? Stop sniffing glue.
25
posted on
03/16/2008 4:54:22 PM PDT
by
Toddsterpatriot
(Why are goldbugs and protectionists so bad at math?)
To: Toddsterpatriot
This is a finacial meltdown.
On a Sunday.
Buying that firm for $250 million? That’s not even what their payroll is.
26
posted on
03/16/2008 4:54:56 PM PDT
by
Dog Gone
(uo)
To: Toddsterpatriot
Thanks to you “free traders” the American taxpayer is going to bail out the Chinese who invested in Bear Stearns. No free market here,none at all.
27
posted on
03/16/2008 4:55:11 PM PDT
by
hedgetrimmer
(I'm a billionaire! Thanks WTO and the "free trade" system!--Hu Jintao top 10 worst dictators)
To: Moonman62
“And not too long ago it was $150 a share.”
That would make a 99% loss. I feel sorry for BS employees who had most of their 401K in BS stock.
28
posted on
03/16/2008 4:55:13 PM PDT
by
Hacklehead
(Crush the liberals, see them driven before you, and hear the lamentation of the hippies.)
To: Toddsterpatriot
UNreal, I can’t belive it only brought $2.00!!
29
posted on
03/16/2008 4:55:23 PM PDT
by
rodguy911
(Support The New media, Ticket the Drive-bys, --America-The land of the Free because of the Brave-)
To: Toddsterpatriot
The number of loyal Bear employees who had large bonuses trapped in vesting share programs is large.
Billions of dollars of personal wealth has been lost over the past year.
I guess a passel of deep-out-of-the-money options on JPM stock is better than nothing.
30
posted on
03/16/2008 4:55:34 PM PDT
by
wideawake
(Why is it that those who call themselves Constitutionalists know the least about the Constitution?)
To: Toddsterpatriot
Prediction: Tomorrow, someone - or maybe multiple people - will walk in a circle in front of Bear Stearns headquarters (383 Madison in NYC, between 47th and 48th) wearing nothing but a barrel, painted will with the words Bear Stearns Investor. TV cameras will eat it up.
I expect high praise tomorrow night for my prescience.
31
posted on
03/16/2008 4:55:50 PM PDT
by
BCrago66
To: Toddsterpatriot
Bear Stearns is a ‘global investment bank’. Yes, it was caused by the falsely named “free trade” deals that allowed American companies to ‘invest’ abroad with the guarantee by the US taxpayer(against our will) to protect them if they get in over their heads. You know I’ve been saying this for years. And now it is coming to pass.
32
posted on
03/16/2008 4:57:23 PM PDT
by
hedgetrimmer
(I'm a billionaire! Thanks WTO and the "free trade" system!--Hu Jintao top 10 worst dictators)
To: BGHater
Who's next? The Repub. running for Pres has said his weakness is Economics. At least he admits it, and will seek advice. W is worse and won't admit it.
33
posted on
03/16/2008 4:57:28 PM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: wideawake
I wonder if 2007 bonuses have been paid yet?
Anyone whose net worth was tied up in Bear Stearns is SOL.
There are going to be a whole lot more investment bankers looking for work in the 2nd quarter....
34
posted on
03/16/2008 4:59:12 PM PDT
by
CatoRenasci
(Ceterum Censeo Arabiam Esse Delendam -- Forsan et haec olim meminisse iuvabit)
To: hedgetrimmer
Thanks to you free traders the American taxpayer is going to bail out the Chinese who invested in Bear Stearns. Bear Stearns is gone.
I was not bailed out. It was purchased by a private enterprise for $240 million dollars.
The Chinese investors in Bear Stearns took an enormous bath.
I understand that you think just making up fake assertions is amusing, but to those of us endowed with the rudiments of an intellect it is obviously just a waste of bandwidth.
35
posted on
03/16/2008 4:59:25 PM PDT
by
wideawake
(Why is it that those who call themselves Constitutionalists know the least about the Constitution?)
To: Dog Gone
Buying that firm for $250 million? Thats not even what their payroll is. Someone posted on another thread that their building is worth $1.3 billion.
36
posted on
03/16/2008 4:59:33 PM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Toddsterpatriot
This is another Enron. Employees (who own about 25% of the outstanding common stock) were "locked-out" from selling their shares under their Employee Stock Ownership Plan, Profit Sharing Plan and Deferred Compensation Plan(s).
There were many millionaire employees last week who are not only broke now, but are also unemployed.
Sad.
37
posted on
03/16/2008 5:00:13 PM PDT
by
UnBubba
To: All
This is terrible...much lower then expected..this means GS had many more problems if the price is only 2$/share...and if they did liley other compnaies do too..
this was the reason for the rate cut just announced
To: BGHater
The Repub. running for Pres has said his weakness is Economics. Is Hillary's or Obama's knowledge of Economics any better than McCain's? I don't think so...
39
posted on
03/16/2008 5:00:48 PM PDT
by
Cowboy Bob
(Illegals : Why spend the money to educate them if its against the law to employ them?)
To: Brilliant
The lawyers are going to have a field day on this one. What will they get? A bunch of lightbulbs?
40
posted on
03/16/2008 5:01:01 PM PDT
by
Rutles4Ever
(Ubi Petrus, ibi ecclesia, et ubi ecclesia vita eterna!)
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