A gold star to anyone who can explain the Bear Stearns thing to me.
Here's one from Slate.
The rich guys need you to lend them a few bucks 'till payday.
sadly i read employee's get bonuses in stock there, and the culture is "no sell, build" so lots of people not involved in the desicion to make the moves that distroyed BS are deeply effected.......
From the Wall Street Journal. (no, I still barely get it)
given the $30 B downside protection from the FED (read: taxpayers) to provide incentive to JP Morgan to buy this shitpile, it must have had a mighty powerful reek inside BS. for anyone above receptionist, my sympathy is weak.
yes it must reek, but the fish stinks from the head
True that.
Here's a front page article from the SJ Merc about how Bailout Ben is flinging the taxpayer into the breach.
I was clever enough to have a decent cash position before the 2000 meltdown, but not clever enough to pull everything out of the market. To the Bear Stern employees screwed by this collapse, I have these sage words "shit happens ... be prepared".
I'm not real happy with the Fed. They're screwing people who hold cash (and the average taxpayer) to bail out people who made truly awful investment decisions. "I can has intrest on my capital, pleeze?"
true enough
Here's a slightly skeptical Businessweek on the deal. Can't vouch for the accuracy, but that's the first one I can sort of understand.
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- jim 3-18-2008 2:06 am
Here's one from Slate.
- L.M. 3-18-2008 3:43 am [add a comment]
The rich guys need you to lend them a few bucks 'till payday.
- alex 3-18-2008 4:25 am [add a comment]
sadly i read employee's get bonuses in stock there, and the culture is "no sell, build" so lots of people not involved in the desicion to make the moves that distroyed BS are deeply effected.......
- Skinny 3-18-2008 2:37 pm [add a comment]
let them eat stake
- anonymous (guest) 3-22-2008 2:27 am [add a comment] [edit]
From the Wall Street Journal. (no, I still barely get it)
- L.M. 3-18-2008 9:07 pm [add a comment]
given the $30 B downside protection from the FED (read: taxpayers) to provide incentive to JP Morgan to buy this shitpile, it must have had a mighty powerful reek inside BS. for anyone above receptionist, my sympathy is weak.
- mark 3-19-2008 2:05 am [add a comment]
yes it must reek, but the fish stinks from the head
- Skinny 3-19-2008 4:54 pm [add a comment]
True that.
Here's a front page article from the SJ Merc about how Bailout Ben is flinging the taxpayer into the breach.
I was clever enough to have a decent cash position before the 2000 meltdown, but not clever enough to pull everything out of the market. To the Bear Stern employees screwed by this collapse, I have these sage words "shit happens ... be prepared".
I'm not real happy with the Fed. They're screwing people who hold cash (and the average taxpayer) to bail out people who made truly awful investment decisions. "I can has intrest on my capital, pleeze?"
- mark 3-20-2008 1:53 am [add a comment]
true enough
- Skinny 3-20-2008 5:13 pm [add a comment]
Here's a slightly skeptical Businessweek on the deal. Can't vouch for the accuracy, but that's the first one I can sort of understand.
- jim 3-31-2008 12:57 am [add a comment]