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]

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.