The Bear Fiasco Explained (in 30 seconds or less)

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Subject Author Date The Bear Fiasco Explained (in 30 seconds or less) Doobie Keebler 03-17-2008  Re: The Bear Fiasco Explained (in 30 seconds or le... Pies de Arcilla 03-17-2008  Re: The Bear Fiasco Explained (in 30 seconds or le... starcade 03-17-2008
Posted by Doobie Keebler on March 17, 2008, 3:48 pm Kunstler nails it once again: "Over the weekend, the Federal Reserve engineered a $30-billion dollar Saint Paddy's day present for the JP Morgan bank by handing them the corpse of Bear Stearns. The object of the game is to prevent the "assets" of Bear Stearns from going to the auction block, on which they would be discovered to be nearly worthless, which would instantly render all similar assets held by the other big banks to be similarly worthless, and would result in a universal margin call that would pretty much unwind the hallucinated "wealth" acquired the past ten years." http://jameshowardkunstler.typepad.com/clusterfuck_nation/ Posted by Pies de Arcilla on March 17, 2008, 5:09 pm > Kunstler nails it once again: > > "Over the weekend, the Federal Reserve engineered a $30-billion dollar > Saint Paddy's day present for the JP Morgan bank by handing them the > corpse of Bear Stearns. The object of the game is to prevent the > "assets" of Bear Stearns from going to the auction block, on which > they would be discovered to be nearly worthless, which would instantly > render all similar assets held by the other big banks to be similarly > worthless, and would result in a universal margin call that would > pretty much unwind the hallucinated "wealth" acquired the past ten > years." > > http://jameshowardkunstler.typepad.com/clusterfuck_nation/ Isn't it a contradiction to claim JP Morgan got a big gift and also that Bear Stearns is worthless? Posted by on March 17, 2008, 5:12 pm > Isn't it a contradiction to claim JP Morgan got a big gift and also > that Bear Stearns is worthless? It's like I discuss about when I talk about the state of an entertainment economy I have a liking in: They had to get something back -- what's to say that the corpse of BSC is all they're getting for stepping in? MY guess is that the whole shebang will be JP Morgan in about a month or so? We're talking "monopoly" here, folks. Mike Similar Threads Posted Fiasco Trade of the Day Newsletter January 2, 2008, 5:56 am Hendry: Short Selling Ban a Fiasco October 10, 2008, 9:53 pm Obama Numbers Spike After Latest Palin Fiasco. . . October 6, 2008, 9:07 am Cramer on Bear Stearns last tuesday - "Bear Stearns is not in trouble. If anything, they're more likely to be taken over. Don't move your money from Bear." March 16, 2008, 10:25 pm The market explained March 29, 2008, 5:11 pm EARN IN 30 SECONDS April 4, 2008, 4:17 pm EARN IN 30 SECONDS April 5, 2008, 10:29 am EARN IN 30 SECONDS April 6, 2008, 4:21 am EARN IN 30 SECONDS April 6, 2008, 1:57 pm EARN IN 30 SECONDS April 6, 2008, 8:55 pm