HULK SMASH
me
meme
meme me
memememe
not me
my work here is done
I wanted to buy two Bear Stearns, but now I can only afford one.
Does a Bear`Stearns in the woods?
From below, cuz I think it's important:
Speaking of healthcare, make sure you read this article from this months issue of Portfolio magazine: http://www.portfolio.com/news-ma...acy- Outsourcing
I started reading it last night and I'm just halfway through, but I'm already disturbed. To give you an idea of what it's about, here's a small outtake:
"With the increasing corporatization of medical care, hospitals have outsourced everything from emergency-room treatment and radiology to infection control. But every transition of vendors, every change in hands, multiplies risk, says James Unland, president of the Chicago consulting company Health Capital Group. "When something as crucial as a pharmacy company changes, it's not just some people in the basement of the hospital," Unland says. "It has an effect of permeating the entire organization."
(...)
More than 8 percent of the nation's 5,500 hospitals outsource the management of their pharmacies to companies like McKesson. These companies can seem like a godsend for hospital C.E.O.'s facing soaring pharmaceutical costs and a nationwide shortage of pharmacists. McKesson and Cardinal Health, which are two of the largest, promise to do it all: staff the pharmacies, set up inventory-management systems that can increase efficiency and safety, and be a one-stop shop for drugs, all at a reduced price.
But a fundamental problem exists, says Kurt Patton, former executive director of hospital-accreditation services for the Joint Commission, an independent oversight agency that inspects and certifies hospitals. Hospitals that turn over their pharmacies to management companies often cede nearly total control. This can create a dangerous disconnect between the hospital's medical staff and the pharmacy."
Repost:
We won't really know until the summer, of course, but the bats of Liberal Mountain are a pretty healthy population.
Molly Ivors,
Biologists in Canda are surveying the hibernation caves to see if we have the same problem. It's called "white nose disease". Not identified yet, it may be fusarium (heap bad juju, if it is)
Some caves have a mortality rate of 90%.
So why should JPM up the offer? If the stockholders don't like $2 per share, fuck 'em. Let go into bankruptcy and get nothing.
Or at the very least, let them think you'll let that happen.
Repost:
How you know it's a "she"? Does she have bat tiddies or something?
a)Is "he" the default gender?
b)Something I picked up from speaking German, since it's Die Fledermaus, Die Maus, Die Fliege, etc. One doesn't use "es", one uses "sie". Confusing sometimes but there it is.
I want to see Bear's balance sheet with real valuations of what they have on their books. Those guys had an insane ratio of leverage before they got popped.
i wish that there was a way to let the big shareholders in BS take the fall when the feds withdraw and the creditors need someone to sue.
What the hell is Clinton thinking?
Clinton proposes Greenspan lead foreclosure group
Fox meeting Chicken Coop.
http://www.reuters.com/article/
p...430663920080324
I heard on NPR this morning that the Fed and the European central banks may buy the big shitpile. With what, you ask? Why our money of course!
But national healthcare is for commies..
G'morning.
Just a drive-by, since I have a meeting coming up.
Molly I - you have EschaCon mail.
Is fusarium the same thing the bees had?
Attaturk,
That is the most cogent and powerful argument I have seen for Barak Obama
i wish that there was a way to let the big shareholders in BS take the fall when the feds withdraw and the creditors need someone to sue.
rootless-e
Just let the Fed and JP Morgan step away from the rescue plan and make public what they know about what's going on at Bear. Problem solved on that front.
a)Is "he" the default gender?
Why, what an excellent question!
Not to worry, the Joint Commission on Accrediation of Hospitals have outsourced all their inspection teams to New Delhi and now all inspections are done by phone.
Hospital pharmacies have nothing to worry about!
I was reading about that bat story last month. The contagion is moving south and west. Hasn't got here yet.
Is fusarium the same thing the bees had?
Molly Ivors
They still have no handle on CDC (which may not be as bad as initially reported), but fusarium is one thing that isn't there.
The current thinking is that CDC may be a combination of stresses, not one particular thing. The only factor every affected hive has in common is malnutrition.
Bats eat tons of mosquitoes and other insect pests so expect their numbers to increase if this worsens.
My GOD, Hillary wants Greenspan to come in and oversee a commission on the Housing Crisis?
More of the same. Washington Insiders. More of the same more of the same more of the same more of the same more of the same more of the same more of the same --->
If it's our money backing up JP Morgan's purchase of Bear, we should have the right to a detailed accounting of Bear's condition. Part of our money could be used to pay for that.
Of course, it would probably lead to someone important going to jail, so it's pretty unlikely.
Clinton has thrown her support bahind the legislation brought by Frank and Dodd. What's Obama suggesting?
Of course, it would probably lead to someone important going to jail, so it's pretty unlikely.
Penguin
Dood, that would be some rich white guy going to jail! Pat Buchanan can't have that!
To the extent I can make any sense out of this, calculated risk suggests this changes the purchase price by about a billion bucks and will buy shareholder approval which would have otherwise blocked the deal.
http://calculatedrisk.blogspot.c...r-
purchase.html
(I was really good at paraphrasing the encyclopedia in middle school.)
Bats take a hit, the insects have a holiday. That means crop/plant losses and insect-borne diseases increase.
Wheeee!
West Nile kills birds.....
I'm way out of my depth here, but during the Bear crisis, at least one of the financial blogs said that the point wasn't so much to actually come to a deal but to appear to come to a deal so as to stave off the necessity of filing for bankruptcy for days or week to facilitate extracting the assets.
I dunno... for whatever reason it looks like this may be a deal that turns out not to be a deal as predicted.
Thanks for your prompt response, Molly. 1 more back atcha.
Not to worry, the Joint Commission on Accrediation of Hospitals have outsourced all their inspection teams to New Delhi and now all inspections are done by phone.
Hospital pharmacies have nothing to worry about!
Henry Flower
Phew--now I feel better. Outsourcing rules!
How about a fair price of -$50/share for participating in a ponzi scheme?
Penguin : If it's our money backing up JP Morgan's purchase of Bear, we should have the right to a detailed accounting of Bear's condition. Part of our money could be used to pay for that.
Of course, it would probably lead to someone important going to jail, so it's pretty unlikely.
Not to mention honesty and accountablility from ANY corporate type for a decade of the end of the Bushists' Rule.
Good morning, all.
"Clinton proposes Greenspan lead foreclosure group"
Not what she said.
Bats take a hit, the insects have a holiday. That means crop/plant losses and insect-borne diseases increase.
Which means even more use of insecticides...
pie,
I have asked you very nicely to please not address me any more. I do so again. Please ignore my presence. Killfile me if you please. I will not respond to your comments, please do not respond to mine.
Thank you very much.
Which means even more use of insecticides...
Marcellina
And more insecticide resistant insects.
Ain't the circle of life grand?
Sheets of Greenspanian shitpile
Phew--now I feel better. Outsourcing rules!
Florida | 03.24.08 - 9:33 am | #
Our heparin is safe. One less thing, ya know?
DWD, I'm throwing the question out to the posters on this blog. I don't expect a rational answer from you.
green sheets.
the Joint Commission on Accrediation of Hospitals have outsourced all their inspection teams to New Delhi and now all inspections are done by phone
"Now hold up the phone to that wall so I can see if it's got the proper fire rating"
Which means even more use of insecticides...
Marcellina | Homepage | 03.24.08 - 9:33 am | #
--------------------------------------------------
------------------------------
Which means even more cancer deaths and environmental damage.
I'm glad Clinton supports the legislation of Frank & Dodd, I'd prefer she not treat Alan Greenspan as being a wise-head that had no role in this foreclosure nightmare when he had more of a role than anyone in its creation.
If Obama kisses Greenspan's ass, he can expect the same disgust.
Attaturk, I agree with you about Greenspan, but he's just one of the people she's proposing.
"Now hold up the phone to that wall so I can see if it's got the proper fire rating"
Penguin | 03.24.08 - 9:36 am | #
Now read me the expiration date on that vial of dopamine....
Clinton has thrown her support bahind the legislation brought by Frank and Dodd. What's Obama suggesting?
pie
Anything is better than the Frank and Dodd legislation.
I'm truly going to give up on this country. I gave up on the collective intelligence of the electorate after 60m morons voted to reelect Bush.
Now I have to give up on the country as a whole, when we have everybody in Washington falling over themselves to bail out irresponsible lenders and borrowers with my tax money.
Who gains? Lenders who had no underwriting standards and borrowers who thought they could pay $500k for a house on $35k in income.
Who loses? Responsible savers and taxpayers, priced out of the housing market by idiots who now can't pay their mortgages and want our tax money to bail them out of foreclosure.
FUCK FUCK FUCK
They weren't rewarding Bear Stearns' misbehavior, but the non-recourse loan made this a fantastic deal for JP Morgan and it did bail out Bear's bondholders. It's bondholders who are bidding Bear shares up - they have to own it so they can vote for this ass-saving deal.
"you're smart, you're a genius"-helicopter ben to himself in the mirror
The Fed shouls never had become involved in this fiasco. Bear Sterans should have continued or crumbled based on pure market forces impacted by trhe company's own fucking arrogant stupidity.
Now these same people are crying that the government, the same government that incorrectly allowed Bear Stearns from falling flat on its fucking face in in foolhearty failure for the whole world to see, now whimper like the privileged pussies that they are that the government should not balk at the increase in sales price.
What a joke! Bear Stearns shareholders are equivalent to welfare mommas addicted to the government dole, as they so cozily snuggle up to the breast of good mother government when they want to nurse.
As it began to look more possible late last week that the deal might be struck down, JPMorgan approached Bear in earnest on Friday about renegotiating the sale price to guarantee its completion and brought the Federal Reserve into the talks as well, people involved in the negotiations said.
Mr. Dimon became increasingly desperate in recent days. He offered certain employees cash and stock incentives to stay on and made calls to his rival chief executives on Wall Street — John J. Mack at Morgan Stanley and John A. Thain at Merrill Lynch, among them — pleading with them not to recruit Bear employees during the transition.
Mr. Dimon had became convinced that the deal was in jeopardy after spending much of last week taking angry calls from Bear’s largest shareholders, including Mr. Lewis, these people said. Moreover, Mr. Dimon, who had indignantly told associates that he would “send Bear back into bankruptcy” if the deal was struck down, was persuaded by his advisers that he had less leverage than he thought, according to people briefed on the conversation. Such vindictive behavior, they told him, would turn into a legal and public relations nightmare.
Tolja last week that Bear's most valuable assets leave in the elevator every night.
In a related story:
http://www.gregpalast.com/elliot...er-gets-nailed/
what a bunch of whining CORPORATE WELFARE QUEENS. they should all be hanged by their necks until dead for the damage they've done to the united states.
george, you're the president. you go first!
Helping one reptile devour another
You could defend the Fed buying up bad Bear Stearns debt as a legitimate public interest justifying the expenditure of public money. We don't want to push banks and other B-S lenders and bond-holders closer to their own brink, and risk widening panic.
But there is absolutely not the shadow of a justification for public money in any way being used to get stockholders one thin dime back on their foolish speculation in this fraudulent company. The Fed should have seized all of Bear Stearns assets in compensation for the massive loss of taking on their bad debt. There is absolutely no justification for using public money to not only get Bear Stearns shareholders any of their cash back, but also to let JP Morgan profiteer by buying up those still-valuable assets of Bear Stearns at fire sale prices. But I guess that "Privatize the profit, socialize the risk." is what modern crony capitalism is all about.
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