Bear Stearns Criminals
They should be hung by ropes and stoned (with rocks)....
The Fed bails them out (a private institution) with taxpayer funds to the tune of $30 Billion!!! WTF? So JPM can "buy" them for $2 per share? Ha Ha Ha!!! Now those greedy fatcats dont have to give back those BILLIONS in bonuses they took just six weeks ago!! Fing insane!
Yeah, but they've lost 50% of their net worths. Did you notice the stock's price? It's down from $160 to $4? The fed's loan is a loan. JP Morgan will have to repay at some point, but as the fed doesn't have to mark to market, they're holding the debt for the time being to create confidence. Unless JPM follows BSC, no taxpayer $$ will be lost & because of the creation of liquidity, there may be a positive effect.
Bear stearns was stolen, they were not bailed out. JP Chase stole them and the fed gave them their blessing.