The Bull has seen a lot of things in his day but he has never seen something like the Bear Stearns collapse.
Their CEO comes out on saturday and tells everyone that everything is ok and that even though the stock has gone from 160 to 30 in less than a year that things are not that bad. Today the Wall Street Journal reports that JP(JPM) is buying 93% of common stock for Bear Stearns for 2 dollars per share. Yes TWO DOLLARS. Curreny stock price is 30 dollars. Turns out that Bear Stearns was going to go bankrupt and this was the best deal they could have gotten to try to "salvage" their company.
The Bull is the ultimate capitlist but this is a criminal act by Bear Stearns, the Fed, JP, ect. Why not release this news during regular stock hours? Why not give the "average" investor a chance to get out instead of just allowing the institutional buyers the only "real" chance. Why not suspend trading(happens with many companies on earnings or big announcments)? Of course they spew this shit about wanting to get it out for Asian Markets opening? Since when does the Fed work for Asia? Since when do we need to help Asian investors over our own investors?
The Market is not looking good for tomorrow. The futures are already down 190 which isn't that much but I don't think they will even stay that high. This market could soon become "a bear market" in its truest sense.
I wish you all the best,
The Bull
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5 comments:
Bear Stearns is a bunch of criminals Bull. The market will be donw 600 tomorrow
CANT COMMENT> WONT WORK
anonymous,
obviously it does work you idiot
Bull we need a gameplan for tomorrow
Bull how do you play a day when ASIA is down 7%?
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