Bear Stearns

[someone]

Man did that sucker drop like a rock this morning. Never seen anything like that.

 

[froghorn717]

Linky

 

[homer]

WOW. just got sold to JPM for $2. HOLY ******* ****. Thats an erosion of nearly 95% ($30 -> $2) in after market hours.

Please explain how this buyout can be approved below market cost w/o shareholder input?

 

[madscientist]

damn.

 

[AeroHorn]

www.msnbc.msn.com/id/23638138/

"It is possible Bear will be bought, perhaps by JPMorgan. If that happens, the buyer would have to take over Bear Stearns' $176 billion worth of distressed securities and its $42 billion in loans — not a rosy prospect for even a healthy bank. "

Even though this article was written before JP bought Bear, it is not a rosy situation for them either. This reminds of the sale of British icon, Land Rover, for 10 pounds.

 

[Bottom Line]

From NYT.....

In reply to:

---

---

 

[Bernard]

In reply to:

---

---

 

[tropheus]

and the short term loan was probably put in place soley to buy time to get the deal signed and submitted to shareholders for approval.

 

[Gardner Barnes]

Bear was a IB that really preached the employee ownership thing. Can you imagine how much wealth has disappeared?

I feel really bad for the rank and file here.

Enron II

 

[HatDaddy]

Buying opp?

 

[halsteadfrost]

In reply to:

---

---