Bear Stearns=Buying Opportunity

bokmeow

Ned's Ninja Academy Dropout
Joined
Apr 11, 2002
Posts
11,314
Closed at $4.81 today.

BUY BUY BUY.

NPR Economy said:
JP Morgan Snaps Up Bear Stearns for $2 a Share

JP Morgan Chase will acquire the troubled investment bank Bear Stearns at the fire-sale price of $2 a share, a deal quickly approved over the weekend by the Federal Reserve, which aims to keep the financial giant from collapsing from its losses in the subprime mortgage crisis.

The approval came as the Fed also took the extraordinary step Sunday of lowering its emergency lending rate to financial institutions by a quarter-point to 3.25 percent.

The moves, days before the Feds scheduled meeting Tuesday, smacked of desperation to many investors, stirring fear worldwide that other banks with sizable exposure to troubled credit markets could also implode. Stocks fell sharply in Asia and Europe, and oil prices set fresh records in Asian trading.

Stunned dealers and traders at Bear Stearns turned up for work Monday to find the value of their stock options in tatters and the future of their jobs up in the air. Just last year, Bear Stearns stock was trading at $172 a share, although it had plunged to $30 in recent days amid market rumors that the bank was heavily exposed to subprime losses.

JP Morgan Chief Financial Officer Michael Cavanagh did not say what would happen to Bear Stearns' 14,000 employees worldwide, or whether the 85-year-old Bear Stearns name would live on after surviving the Great Depression and a slew of recessions.

JP Morgan said it will guarantee all business — such as trading and investment banking — until Bear Stearns' shareholders approve the deal, expected to be completed during the second quarter. The acquisition includes Bear Stearns' midtown Manhattan headquarters.
 

Hippee

Sgt. Pistachio,
Joined
Mar 10, 2002
Posts
728
Should've shorted last week and made 80+ bucks a share. Hmmm.... The stock was freaking out last Friday too. If you think this new 3/4 dollar price is a good deal - then you could've been one of the folks to BUY BUY BUY BSC at 30 bucks on Friday. :oh_no:

Here's a link to a guy who lost over a billion in BSC.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a3sR9N6dOoUM&refer=home

What's the world coming to???
 
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bokmeow

Ned's Ninja Academy Dropout
Joined
Apr 11, 2002
Posts
11,314
Analysts are bracing for the other shoe(s) to fall.... Lehman Brothers look to be the next casualty --- it's already down 32% today.
 

Segata_Sanshiro

Tesse's Maintainence Man
15 Year Member
Joined
Dec 16, 2004
Posts
2,948
I'd say buy once it's clear they won't go under.

Then you stand to make almost as much, but with much less risk.
 

Poison Sama

The Hentai Christ
20 Year Member
Joined
Jun 29, 2002
Posts
6,631
These bank fuck ups have nothing to do with blockchain tho.
It's specifically poking fun at Signature Bank (check the Bloomberg article in the tweet), which was under investigation for possible money laundering involving cryptocurrency just before it went under.
 
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