does bear stearns shit in the woods?

[rone]

I don't know about you, but i'm looking forward to heating my home with Weimar dollars.

Comments

[ikkyu2.livejournal.com]

I'm pissed they bailed the cocksuckers. Off with their morally hazardous heads.

[adb-jaeger.livejournal.com]

Well, they didn't bail them out.

Bear pays most of their bonuses in stock, and employees own 30% of the company.

They're pretty much marked at $0 now.

JPM paid $200 million, for a company that owns a building (Manhattan real estate) worth 1.2 billion, just by itself.

[epileptikitty.livejournal.com]

Is the building leased? It's a common $$ manipulation.

I'm suspecting this is 1) a quid pro quo for other favors from JP, and 2) a last-ditch effort to keep JP solvent.

[ikkyu2.livejournal.com]

Yes, and they bought that company's liabilities, which total a great deal more than 1.2 billion, with a guarantee from the Fed that if (when) those liabilities come due because of defaults on the underlying collateral, Morgan won't have to pay them.

Book value is a mirage. Don't get sucked in.