JPMorgan to Buy Bear for $2 a Share

JPMorgan to Buy Bear for $2 a Share

biz.yahoo.com

Just four days after Bear Stearns Chief Executive Alan Schwartz assured Wall Street that his company was not in trouble, he was forced on Sunday to sell the investment bank to competitor JPMorgan Chase for a bargain-basement price of $2 a share, or $236.2 million.

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"At Friday's close, Bear Stearns's stock-market value was about $3.54 billion." (Link)

Now that's a steal. It's good to see the true value coming out. With the size of the derivative market this should send a few more shock waves through the world economy.

Using Bear as a benchmark....

$3,540,000,000 to
$236,200,000

That's about 15 to 1. That's not going to be pretty.

biz.yahoo.com
(visit the link for the full news article)

I'm late on this. The other thread is www.abovetopsecret.com...