by Anne Stanley
4:02pm 03/14/2008
"None of these things is done until they're done. But I think everyone's expectation is sometime in the early evening hopefully"the deal will be done.
JPMorgan Chase & Co (JPM) | |
The Bear Stearns Companies Inc (BSC) | |
- Alitalia board clears $216 mln takeover by Air France KLM
- The week's top news and analysis, March 10-14
Wish I owned puts at $50 a share when they were only .65 on Thursday evening.
But back to the real world. This is one of the 1% of the banks that are in trouble. Shows you how much money is still out there in many ways.
Time to buy bank stocks on great small and midsize banks in retirement areas like Florida, Texas and New Mexico. Over sell means over the top profit as this shakes out.
Most of the banks that are going to dissapear will be gone in the next month or so. Then it's boom time again in the bank stocks.
Many banks will cut their dividend so they can buy banks. Don't worry when they cut the dividend. Watch bank stocks that have huge mutual fund buys and
are well below book value.
Like BBX, FBTX FSNM WHI, FITB and the like.
Definitely.
That's got to be great news for the 401ks and ESOPs.
Retirement will have to wait.
Until never. Is never good for you? Works for me.
US, Canadian, Australian and/or Bermudian Dollars?
May I bid, Two Clubs, on this deal too?
yon77 3 minutes ago
Likely less than the building; 383 Madison is prime real estate in a hot area:
http://wirednewyork.com/skyscrapers/383madison/
Reply to kryon77
Reply to itsnotrocketscience
beentherebefore 6 minutes ago
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Is this legal ? What about all the employees who got paid in stock ? What about all the bargain hunters who bought on the $27 drop on friday ? The margin calls that will result is going to create chaos.. Better to have an orderly liquidation..
Reply to beentherebefore
WrightOn 4 minutes ago
Just to help give a reference on how much $ we are talking about concerning for example the national debt, I read today that 1 million in tightly packed 1,000 dollar bills would be 4 inches high. 1 billion would be 300 feet high. 1 trillion would be over 62 miles high!
Reply to WrightOn
bob620 3 minutes ago
What a shame that the economy has come to this. So what's JPM worth? $10?? How about Merrill Lynch, Morgan Stanley, others? And the market is going to go up because Wall Street has become worthless?? Interesting!!
Reply to bob620
al00 3 minutes ago
and GS yet to unveil a 3b write down !
Reply to al00
bullishlybearish 3 minutes ago
anyone have any idea what this means for bear stearns shareholders?
for every bear stearns share, u get 0.05 jp morgan share?
Reply to bullishlybearish
sharpshooter 3 minutes ago
Citic just had their pockets picked on Wall Street. Welcome to America!
Reply to sharpshooter
edible 2 minutes ago
I believe they are right on...the crooks ruining these old time banks are definitely not their father's sons. Rather they are the breed that grew up in the "ME" era, with no morals, no ethics, no mothers to watch over them. For shame! The people who were counting on them for retirement can always start over...yeah, right. The line at the end of the Enron party starts tomorrow when the news hits the fan.
Reply to edible
ehoffner 2 minutes ago
LOL! The futures show the market up over 100 points. Take that you short losers!
Reply to ehoffner
MrVincent 2 minutes ago
JPM, get ready to spend the next ten years in court fighting the lawsuits against Bear.
Reply to MrVincent
These deriviatvies are so levered up and in many cases over 20 times and I think that's coming home to roost on many of these firms. We're talking in the CDO market derivative play there is over 100 trillion worth of these derivatives on balance sheets which is I believe 6 times more money than in the entire world!! That is beyond comprehension.
Someone is on the other side of these trades and it's not just BSC...This should be the beginning and people should be selling like mad right now not buying. There is no way to know what securities and risks are on bank and other companies balance sheets.
Reply to wburdett
Well, I think that shareholders have to approve this deal. I do not own the stock, but if I was a shareholder I would never agree with the 2 bucks. I would say, let BS go bankrupt, or offer a better price. I'm sure that they would not let BS collapse in that case.
Reply to Noek
itsnotrocketscience 1 minute ago
BSC Dec 12 2007 $100.84.
BSC Mar 16 2008 $2.00.
Pretty pathetic. So Lehman, Goldman, Merrill, UBS, should be reduced accordingly. About time somebody put a price on this cr___p.
Reply to itsnotrocketscience
Internaional markets were closed on Friday when the Fed/JPM bailout happened... a lot of international traders who owned Bear Sterns will see the stock go from $70 to $2 without having any ability to unload... This will increase their distrust in the U.S. financial markets... part of the reason the Fed acted 2 days early to lower the discount rate... U.S. Stock Futures are up, but this is meaningless... There were a lot of things going on this weekend with margin calls... Just talked to my broker who was in a meeting in Seattle... look for wild swings in Treasuries tomorrow.....
35 Comments (view all)
Close your position before rumors of the deal falling apart drive the price of BSC rocketing up to $3...
- bluefuzz