If JPMorgan did not buy Bear Stearns the world economy would have flushed itself down the crapper. This was the financial equivalent of the Cuban Missile Crisis.
Also, if you would prefer to discuss cereal instead of the credit market, prepare for a life of poverty.
The credit market doesn't mean shit to you if you sleep on a mattress stuffed with money. That's a lie actually
Originally Posted by rezo
Jim Cramer really put his foot in his mouth on this one. (he's the guy who likes having nervous breakdowns on the air, apparently)
http://www.businessandmedia.org/arti...317110946.aspx
Hot JP Morgan buyout action:
http://www.bloomberg.com/apps/news?p...efer=worldwide
Eh. He was either misquoted or misunderstood. I think he was talking about doing business with Bear, not investing in their shares.
You don't invest for a one week turnaround, so it'll be a long time before we know if Cramer was right or not.
In happier news, my company's stock is up 30 points in the ~27 months since I received a sizable equity award of it.
National City Bank is apparently looking for a buyer. Which is funny because they just built a brand new place right by a Chase bank.
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