quote:

Originally posted by spinvinyl yeah really, I mean Bush didn't even know gas prices we're expected to go higher.... http://www.youtube.com/watch?v=8EWwrK0VQkY

bush doesnt know shit other than 911, iraq, taliban, al qeada.

i can imagine hank paulson lecturing bush about whats going on everyday and try to explain him that bear stearns is a company, not a name of a bear.

THE FED

Part 1



http://www.youtube.com/watch?v=_dmPchuXIXQ


Part 2



http://www.youtube.com/watch?v=lBZne09Gf5A

Awesome video...

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"Ibiza will be Earth’s final refuge after Armageddon" -Nostradamus

zeitgeist is a great film, here's another one

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Fed Cuts Rates 3/4 Point, Less Than Expected

No problemo, Bernanke to the rescue!

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www.GenerationTrance.com

*Depeche Mode* Appreciation

Fed Slashes Rates by Three-Quarter Points- AP

With recession fears growing, the Federal Reserve slashed the federal funds rate by three-quarters of a point. Most investors expected a full-point reduction. Today’s cut comes on the heels of the Bear Stearns bailout and U.S. Treasury Secretary Henry Paulson saying the U.S. economy is in "sharp decline."...

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"Ibiza will be Earth’s final refuge after Armageddon" -Nostradamus

you gotta hand it to them, when it comes to screwing working-class people out of money, corporate banking is fucking pro...

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JPMorgan in talks to raise Bear Stearns bid
Monday March 24, 1:12 am ET

NEW YORK (Reuters) - JPMorgan Chase & Co (NYSE:JPM - News) was in talks to quintuple its offer to buy Bear Stearns Cos (NYSE:BSC - News) to $10 per share in an effort to pacify angry Bear shareholders, The New York Times said on Monday.

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JPMorgan's original agreement on March 16 to pay $2 per share for the stricken Bear, was widely considered a fire-sale price after the Wall Street bank saw the value of its investments pummeled by a meltdown in the subprime mortgage market.

The agreement had won support of federal regulators, but the U.S. Federal Reserve is now balking at the new price, the newspaper said, citing people involved in the talks. As a result, the renegotiated merger might be postponed or collapse, the newspaper said.

A $10 per share offer would value Bear at more than $1 billion. That price, however, is less than one-third where the stock traded on March 14, the last trading day before the original merger was announced. It is also less than 10 percent where the stock traded in much of 2007.

Representatives of Bear and JPMorgan did not immediately return calls seeking comment.

According to the newspaper, Bear was seeking to authorize the sale of a 39.5 percent stake on Sunday night, freeing it under Delaware law from obtaining shareholder approval. That would leave JPMorgan needing only slightly more than 10.5 percent of shareholder support to clinch the transaction.

As part of the original transaction, the Fed extended a $30 billion credit line to JPMorgan to finance Bear's most illiquid assets.

The newspaper said the central bank also directed JPMorgan to pay no more than $2 per share to assure that it would not appear that Bear shareholders were being rescued, citing people involved in the talks.

Bear shares closed Thursday at $6.39, reflecting investors' expectations that JPMorgan might raise its bid, or Bear might find another suitor to offer a sweetened price.

(Reporting by Jonathan Stempel, additional reporting by Anshuman Daga in Singapore; Editing by Jean Yoon)

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"Ibiza will be Earth’s final refuge after Armageddon" -Nostradamus

quote:

Originally posted by diskodave JPMorgan in talks to raise Bear Stearns bid Monday March 24, 1:12 am ET NEW YORK (Reuters) - JPMorgan Chase & Co (NYSE:JPM - News) was in talks to quintuple its offer to buy Bear Stearns Cos (NYSE:BSC - News) to $10 per share in an effort to pacify angry Bear shareholders, The New York Times said on Monday. ADVERTISEMENT JPMorgan's original agreement on March 16 to pay $2 per share for the stricken Bear, was widely considered a fire-sale price after the Wall Street bank saw the value of its investments pummeled by a meltdown in the subprime mortgage market. The agreement had won support of federal regulators, but the U.S. Federal Reserve is now balking at the new price, the newspaper said, citing people involved in the talks. As a result, the renegotiated merger might be postponed or collapse, the newspaper said. A $10 per share offer would value Bear at more than $1 billion. That price, however, is less than one-third where the stock traded on March 14, the last trading day before the original merger was announced. It is also less than 10 percent where the stock traded in much of 2007. Representatives of Bear and JPMorgan did not immediately return calls seeking comment. According to the newspaper, Bear was seeking to authorize the sale of a 39.5 percent stake on Sunday night, freeing it under Delaware law from obtaining shareholder approval. That would leave JPMorgan needing only slightly more than 10.5 percent of shareholder support to clinch the transaction. As part of the original transaction, the Fed extended a $30 billion credit line to JPMorgan to finance Bear's most illiquid assets. The newspaper said the central bank also directed JPMorgan to pay no more than $2 per share to assure that it would not appear that Bear shareholders were being rescued, citing people involved in the talks. Bear shares closed Thursday at $6.39, reflecting investors' expectations that JPMorgan might raise its bid, or Bear might find another suitor to offer a sweetened price. (Reporting by Jonathan Stempel, additional reporting by Anshuman Daga in Singapore; Editing by Jean Yoon)

interesting to see what happens and at what price

all i know is last monday i woke up at 6:30am and BSC was 3$ a share and my instinct told me to buy big because it was way undervalued and i didn't....fucking stock went up to 7$ (130% gain!@L$J:!@$J!#@:$#@DF) in 24 hours then falling to the 6 range, which was still double.

now its too late to make a move imo :/

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quote:

Originally posted by ninetyninej interesting to see what happens and at what price all i know is last monday i woke up at 6:30am and BSC was 3$ a share and my instinct told me to buy big because it was way undervalued and i didn't....fucking stock went up to 7$ (130% gain!@L$J:!@$J!#@:$#@DF) in 24 hours then falling to the 6 range, which was still double. now its too late to make a move imo :/

Well, I guarantee that the FED doesn't like a buyout price @ $10 per share... if BSC opens around $10+ tomorrow, then it might be a good daytrade to short the stock, as all the big holders DUMP their shares in the late morning/afternoon. I'd watch closely though before making any moves.

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"Ibiza will be Earth’s final refuge after Armageddon" -Nostradamus

quote:

Originally posted by diskodave Well, I guarantee that the FED doesn't like a buyout price @ $10 per share... if BSC opens around $10+ tomorrow, then it might be a good daytrade to short the stock, as all the big holders DUMP their shares in the late morning/afternoon. I'd watch closely though before making any moves.

BSC @ 12... the FED just got us out of the recession! BUY BUY BUY!!!

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www.GenerationTrance.com

*Depeche Mode* Appreciation

quote:

Originally posted by diskodave Well, I guarantee that the FED doesn't like a buyout price @ $10 per share... if BSC opens around $10+ tomorrow, then it might be a good daytrade to short the stock, as all the big holders DUMP their shares in the late morning/afternoon. I'd watch closely though before making any moves.

BSC hit $13.85 around noon est... closed at $11.25

That's 23% gain in a 4-hour trade... not bad

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"Ibiza will be Earth’s final refuge after Armageddon" -Nostradamus