4822 writes:
Second
4822 | 03.17.08 - 1:58 pm | #

safe_as_apartments writes:
Come here, Lehman! Come here right now!

Noogie, noogie, noogie!

AW, quit it. I said quit it!
safe_as_apartments | 03.17.08 - 1:59 pm | #

silence writes:
At least it isn't a tulip.
silence | 03.17.08 - 1:59 pm | #

Barley writes:
Credit goes to JPM, of course
Barley | 03.17.08 - 2:01 pm | #

izzatxeaux writes:
some bobblehead just pointed out

JPM paid less for BSC than the Yankees did for A-Rod ($275M)
izzatxeaux | 03.17.08 - 2:03 pm | #

neil writes:
ROTFL

At least there is a sense of humor.

$150 to Two buck Bear... Ouch. This isn't over either. S&P is going to look really foolish soon. Maybe as foolish as the Yale "permanently high platau" quote.

Got Popcorn?
Neil
neil | Homepage | 03.17.08 - 2:03 pm | #

JJL writes:
OUCHIE!
The sad thing is that probably 70-90% of the BSC workforce had nada to do with the blow up and they are probably out of a job. Still, ride it on the way up and down I guess. I will not shed any tears.
JJL | Homepage | 03.17.08 - 2:03 pm | #

Ministry of Truth writes:
Hey that $2 bid saved the execs their bonus money paid out in January. If they had gone BK the execs would have had to pay it back. Long live the Fed!!!
Ministry of Truth | 03.17.08 - 2:05 pm | #

Marcus Aurelius writes:
I'll bet it's not even real. The real ones say "Silver Certificate" at the top.
Marcus Aurelius | 03.17.08 - 2:05 pm | #

Barley writes:
Marcus Aurelius > It probably did not even belong to the person who taped it there. It was borrowed from another person with a promise to cover if something went wrong. BS is subprime now, too.
Barley | 03.17.08 - 2:07 pm | #

Rob Dawg writes:
I guess the Corp HQ is now worth $1,300,000,002.

ROTFLMAO.
Rob Dawg | Homepage | 03.17.08 - 2:08 pm | #

Shylock writes:
For some reason a $3 bill seems even more appropriate.
Shylock | 03.17.08 - 2:08 pm | #

Max writes:
I got it from Reuters:

$2
Max | Homepage | 03.17.08 - 2:08 pm | #

rich writes:
There is a rumor (conspiracy theory?) that there is a group of investors, possibly semi-terrorist, who are taking aim at the investment banks one-by-one with concentrated short-selling and rumor-mongering to drive down the share price and create a "run" atmosphere.

Sounds nuts. But so far, so good.

Hey, what's good for the PPT is good for the gander.
rich | 03.17.08 - 2:09 pm | #

nades writes:
Barely & MA

ROTFL!


This is getting more and more crazy.....
nades | 03.17.08 - 2:09 pm | #

Max writes:
Try this:

$2
Max | Homepage | 03.17.08 - 2:09 pm | #

ac writes:

$3 bill would be more appropriate. But then again I guess the $1 bill and the proverbial $3 bill are roughly the same thing now.

ac | 03.17.08 - 2:09 pm | #

Windowdog writes:
"izzatxeaux writes:
some bobblehead just pointed out

JPM paid less for BSC than the Yankees did for A-Rod ($275M)
izzatxeaux | 03.17.08 - 2:03 pm | #"

Looks like Bears should have gotten Boras on retainer, at least they could have kept the marketing rights and an increased signing bonus.
Windowdog | 03.17.08 - 2:10 pm | #

ac writes:

For some reason a $3 bill seems even more appropriate.

Damn you for getting there first. And I checked before posting too.

ac | 03.17.08 - 2:10 pm | #

safe_as_apartments writes:
Wasn't the PPT supposed to be meeting at 2 p.m. today? Could that explain the dramatic ramp?
safe_as_apartments | 03.17.08 - 2:12 pm | #

Dr. Wu writes:
JPM paid less for BSC than the Yankees did for A-Rod ($275M)
izzatxeaux

A-Rod had a better year.
Dr. Wu | 03.17.08 - 2:12 pm | #

Windowdog writes:
Does it really look like the Bear Sterns shareholders are going to improve this deal? There seems to be a consensus that more can be gained via bankruptcy.
Windowdog | 03.17.08 - 2:12 pm | #

rich writes:
Did you hear that Bear employees are gonna sue to get their money back?

Sounds like the dot.com bomb, no?

Except this time, real companies are disappearing in front of your eyes.
rich | 03.17.08 - 2:12 pm | #

ac writes:

LOL @ DOW and S&P 500 being down by same amount.

I guess not enough $$$ to pump both futures?

ac | 03.17.08 - 2:13 pm | #

energyecon writes:
We need a Kevin Bacon clip from "Animal House"...
energyecon | 03.17.08 - 2:15 pm | #

Marcus Aurelius writes:
Someone just traded a buttload of silver for stocks. I do not like the smell of fear. It stinks.
Marcus Aurelius | 03.17.08 - 2:15 pm | #

Hokie writes:
The current $2 bills aren't Silver Certificates. No sirree, they're Federal Reserve Notes.
Hokie | 03.17.08 - 2:16 pm | #

NoVa writes:
Maybe the 2$ means everyone there is gay?
NoVa | 03.17.08 - 2:16 pm | #

energyecon writes:
Doesn't any TIO money become available right about now? Getting a little thin there Hank, say brother can you spare a dime?
energyecon | 03.17.08 - 2:18 pm | #

scotty_at_the_helm writes:
Someone needs to put one of these certificates on the window of The White House!
scotty_at_the_helm | 03.17.08 - 2:18 pm | #

Drew writes:
Kudos to the wiseacre who slapped the 2 spot on the window.
Drew | Homepage | 03.17.08 - 2:19 pm | #

Crispy&Cole writes:
I think this "buyout" is only a temporary hold to stave off a bank run.

They know it will be turned down by the s/h, however, the fed buys time to de-lever bear and then in a year they are back on their feet.

Well played Mr. Bernanke!
Crispy&Cole | Homepage | 03.17.08 - 2:19 pm | #

safe_as_apartments writes:
"LOL @ DOW and S&P 500 being down by same amount.

I guess not enough $$$ to pump both futures?"

It really is weird that the Dow is being ramped while the S&P languishes. I guess the PPT or some buying cabal of banks figures that Joe public and Bob foreigner only looks at the Dow.

All is well; now give us your money.
safe_as_apartments | 03.17.08 - 2:21 pm | #

ac writes:

Did you hear that Bear employees are gonna sue to get their money back?

Them and the shareholders should sue the execs to get every friggin' bonus dollar they've recieved in the past 5 years back.

ac | 03.17.08 - 2:21 pm | #

Windowdog writes:
From what I read 1/3 of the shares are held by employees.
Windowdog | 03.17.08 - 2:22 pm | #

4822 writes:
"Maybe the 2$ means everyone there is gay?"

or emasculated
4822 | 03.17.08 - 2:22 pm | #

ac writes:
It really is weird that the Dow is being ramped while the S&P languishes. I guess the PPT or some buying cabal of banks figures that Joe public and Bob foreigner only looks at the Dow.

Really I can see somebody thinking that way - Joe 6 Pack only gets worried about triple-digit declines, so screw the S&P.

ac | 03.17.08 - 2:23 pm | #

izzatxeaux writes:
energyecon -

ya mean this ?

http://www.tigersweat.com/movies...mal/ house13.wav
izzatxeaux | 03.17.08 - 2:23 pm | #

Michael writes:
The shareholders have nothing to loose by voting this deal down. Just for spite, they should ban together and file for an injunction or do whatever it takes to kill the deal.
Michael | 03.17.08 - 2:25 pm | #

NSA writes:
The Bucks have stopped here.
NSA | 03.17.08 - 2:26 pm | #

GaudiaRay writes:
CITIBANK IS BK TOO.

Oh, I'm sorry, it too is worth 2 bucks a share, so I guess they're insolvent, not BK.

Bullshit.
GaudiaRay | 03.17.08 - 2:26 pm | #

Marcus Aurelius writes:
They got a big bowl of Whack-a-Mole, and some chips to go wit' da' dips.
Marcus Aurelius | 03.17.08 - 2:28 pm | #

scotty_at_the_helm writes:
The Fed should take one dollar bills out of circulation and exchange them for two dollar bills, because the on dollar bills are only worth about 40 cents

However, The fed is going to print a lot more money, thus just move to the five dollar bill and have a little breathing room?
scotty_at_the_helm | 03.17.08 - 2:28 pm | #

Spatch writes:
Did someone say $3 bill ?

http://digg.com/comedy/ Behold_th..._the_new_3_bill
Spatch | 03.17.08 - 2:29 pm | #

gpblank writes:
NCC looks to be next - down 45%.
gpblank | 03.17.08 - 2:30 pm | #

NSA writes:
I think the approach of wacking a zero off the denomination will suffice.
NSA | 03.17.08 - 2:30 pm | #

trail writes:
JPMorgan is paying $250 million and setting aside $6 billion for litigation AND SEVERENCE COSTS! In other words, the jackasses who wrecked the company are going to get paid anyway.

Sanctity of contract.
trail | 03.17.08 - 2:31 pm | #

Barley writes:
Crispy&Cole writes:
I think this "buyout" is only a temporary hold to stave off a bank run

yesterday after I said "Two Bucks?" a zillion time, this was my suspicion, too. The backend of BS had to remain strong or at least the optics of strength were necessary.
Barley | 03.17.08 - 2:33 pm | #

ipodius writes:
trail the severance costs aren't going to begin to cover the loss in stock value for these people. Look up the employee holdings, especially upper mgmt. They just got clobbered.
ipodius | 03.17.08 - 2:34 pm | #

scotty_at_the_helm writes:
They have this wrong, the two dollar bill is not adjusted for inflation, thus it's just a symbolic metaphor....
scotty_at_the_helm | 03.17.08 - 2:34 pm | #

NSA writes:
Could be part of the new Smokey the Bear ad campaign.

"Only dubba-you can cause bank fires

or

"Bear Stearns, Bear Stearns, whatcha gonna do;
Whatcha gonna do when they come for you..."
NSA | 03.17.08 - 2:34 pm | #

Barley writes:
Any one here watching MF Global? Waazz -up wit it?
Barley | 03.17.08 - 2:35 pm | #

Marcus Aurelius writes:
...a veritable conundrum wrapped in an enigma...
Marcus Aurelius | 03.17.08 - 2:37 pm | #

GaudiaRay writes:
From JP Morgan today:
"it was a very well run, tight operation with good risk controls and a risk discipline that was very similar to our own."

The key phrase, "VERY SIMILAR TO OUR OWN".

JPM, but for the outrageous FedRes giveaway (ah you gotta love the Republican laissez faire fraud line), is in the same boat.

How long will you and I stand for the FedRes destroying our fiat store of value? Are we that passive?

Emasculation is Bernanke's problem, Bush's reality, Paulson's choice; but it's not mine.

USD's...the world's newest "Continental".

They're all BK. Expect it. Own it. Be responsible and responsive to it.

Sue the Fed Govt and Fed Res; where are the class actionists?
GaudiaRay | 03.17.08 - 2:38 pm | #

trail writes:
Ipodius, I agree with you, but I expect the severence costs will be distributed in an inequitable fashion. $6 billion goes a long way toward compensating the top 50 or 75 executives for their losses. My guess is that the stockholders will come out losers but the management will do ok.
trail | 03.17.08 - 2:38 pm | #

Marcus Aurelius writes:
My guess is that the stockholders will come out losers but the management will do ok.
trail | 03.17.08 - 2:38 pm

______

Was there ever any doubt?
Marcus Aurelius | 03.17.08 - 2:42 pm | #

BR writes:
I'm not that "BR", but I'm starting to think BR is Barry Ritholtz. What say, CR?
BR | 03.17.08 - 2:42 pm | #

scotty_at_the_helm writes:
It's tuff out there, not even any good songs:

If you go out in the woods today
You're sure of a big surprise.
If you go out in the woods today
You'd better go in disguise.

For every bear that ever there was
Will gather there for certain, because
Today's the day the teddy bears have their picnic.

Chorus:
Picnic time for teddy bears,
The little teddy bears are having a lovely time today.
Watch them, catch them unawares,
And see them picnic on their holiday.
See them gaily dance about.
They love to play and shout.
And never have any cares.
At six o'clock their mommies and daddies
Will take them home to bed
Because they're tired little teddy bears.
scotty_at_the_helm | 03.17.08 - 2:44 pm | #

Anonymous writes:
And what does Congress have to say about this mess??

insert sound of crickets chirping here....
Anonymous | 03.17.08 - 2:46 pm | #

cd writes:
dow in green
cd | 03.17.08 - 2:47 pm | #

Duane Johnson writes:
Don't give credit. It's too risky.
Duane Johnson | 03.17.08 - 2:47 pm | #

cd writes:
leh is vegas like action today!
22-26.80 range
cd | 03.17.08 - 2:51 pm | #

plschwartz writes:
Just coming online and maybe I missed a discussion on this.
But after Japan market last night and then Europe, I expected a real bloodbath here. Well thats not happening.
I for one , contrarian that I am, want to give a large vote of thanks to Bernanke and the Fed for they way they were able to stabilize the market.I find the $30bil even if all used will be well spent
It has been a while since I could feel there was intelligent guidance in this country. At least now we have it at the Fed.
plschwartz | 03.17.08 - 2:53 pm | #

GaudiaRay writes:
Plschwartz,
Please...
Today's trading action is NORMAL. I termed this when it was obvious reaction to major stress, "choppy waters". This is normal trading action, around zero from the prior day.
GaudiaRay | 03.17.08 - 2:59 pm | #

GaudiaRay writes:
From a surprised BS shareholder, "I invested my funds and my faith in BS, and all I got was this cheesy tee shirt!
GaudiaRay | 03.17.08 - 3:00 pm | #

Keep It Simple, I'm Stupid writes:
Can anyone give me a a good explanation for why BSC is trading at $4.50, while 0.05473 shares of JPM are trading for $2.19?
Keep It Simple, I'm Stupid | Homepage | 03.17.08 - 3:10 pm | #

GD writes:
I wonder if Bear would be "Better Off Dead" than suffering this humiliating price per share ... are BS shareholders really saying "I want my two dollars!"?
GD | 03.17.08 - 3:21 pm | #

JD writes:
keep it simple--, I was just going to ask the same question.
JD | 03.17.08 - 3:28 pm | #

JR in SD writes:
Perhaps the current price is reflecting the fact that they believe they'll get a better offer or will not accept? Short Covering maybe? Who the hell knows?
JR in SD | 03.17.08 - 3:32 pm | #

EngineerJim writes:
Lets see, JPM is going to set aside $6B for lawsuits and severance. This is 25 times the $236M they are going to pay share holders at $2 per share.

They could give the share holders $30 per share and still have some left over for severance. If they gave $30 to the shareholders, they wouldn't have the lawsuits. I guess I don't get this.
EngineerJim | 03.17.08 - 3:59 pm | #

Mrs. Donovan writes:
1773-1776: "No taxation without representation"

2008-?: "No inflation without representation"

Is there a difference?
Mrs. Donovan | 03.17.08 - 4:04 pm | #

remsem writes:
GD writes:
I wonder if Bear would be "Better Off Dead" than suffering this humiliating price per share ... are BS shareholders really saying "I want my two dollars!"?

roflmao..
remsem | 03.17.08 - 4:16 pm | #

marco writes:
1,3 euro for a bank !

Wait !!! Wait !!!! Wait !!!!!

I'm coming from Italy to buy it !!!!!!!!!!!!!!!!!!!!!!!!!
marco | 03.17.08 - 4:16 pm | #

MSM writes:
energycon: ... say brother can you spare a dime?

Looking back to the depths of the Depression in the CPI:

ftp://ftp.bls.gov/pub/special.r...s/cpi/cpiai.txt

It seems that old dime is worth about $1.80 -- darn close to two bucks.
MSM | 03.17.08 - 4:30 pm | #

jk writes:
Baby, if you're feeling good
And baby if you're feeling nice
You know your man is workin' hard
He's worth a Deuce
jk | 03.17.08 - 4:54 pm | #

HC writes:
The two buckaroo note.

Today's plugged nickel.
HC | 03.17.08 - 5:52 pm | #

girlbear writes:
this is going to give all bears a bad name.........
girlbear | 03.17.08 - 7:13 pm | #

JD writes:
JR in SD writes:
Perhaps the current price is reflecting the fact that they believe they'll get a better offer or will not accept? Short Covering maybe? Who the hell knows?

I was kinda expecting that the people that are buying the stock at $4.80/share would know.
JD | 03.17.08 - 9:38 pm | #

Anonymous writes:
Bear is an affectionate gay slang term for those in the bear communities, a subculture in the gay community and an emerging subset of LGBT communities with events, codes and culture specific identity.
Anonymous | 03.17.08 - 9:40 pm | #

FFDIC writes:
A two buck gang pluck.
FFDIC | 03.17.08 - 10:07 pm | #

Dick writes:
Fury and fine. Husky, hairy he-man Tom Chase kicks off Texas Bear Round Up in Dallas March 20-23
http://www.dallasvoice.com/ artma...rticle_8353.php
Dick | 03.17.08 - 10:11 pm | #