OK, someone translate this crap. BS was at 30 bucks a share and JP gets to buy it at TWO DOLLAh A SHARE?
I would have maybe bought some at that price... well unless what they are trying to say is that it ain’t even worth that!
JP Morgan got to see what’s really on their balance sheet. The public didn’t on Friday, although one would have to be completely out of touch not to realize that there were BK rumors that caused the Fed loan to go into motion.
JPMorgan to Bear - TAKE IT OR LEAVE IT. Bernanke chimes in....better take it Mr.Swartz. Deal....done.
I might be mistaken, but I think the $2/share is the pity price. It’s not worth that much right now. No confidence.
The Nikkei is down 4.2% at session middle...over 500 points. The dollar sank to 97.11 yen, the lowest level since September 1995.