That's as close to getting it for free as they possibly could. Can someone figure out how much Ace Greengerg is worth now? Maybe no more that you or I?
Wow. If they offered zero, Bear would have just gone BK. So this is about as low as it could go. I haven't seen the details yet, but the Bear bondholders are probably going to be happy monday morning.
"The Fed will provide special financing in connection with this transaction. The Fed has agreed to fund up to $30 billion of Bear Stearns' less liquid assets."
WOWZA! Talk about "marked to market"! That is some sick stuff!
Here is my main thought point for the night:
The FED is betting the house on this point;
No Other Major Bailout is Needed - I want you to consider a very real point; What if Morgan Stanley or Lehman Brothers had the same blowup as BSC this week or next? What if BOTH did? Can the FED really supply THAT MUCH LIQUIDITY? If two or more entities bought the farm we could be looking at dollar values in the Trillion range for assistance. What would that do to the dollar? What would that do to the US's credibility of EVER paying up on our debt? The FED is really gambling the house on this point. As they say over at Minyanville, "Risk is extremely high".
My understanding is that this will not be a default event for the CDSs. CDS language is typically focused on the bonds, and if the bonds are not being restructured, the instruments will not be triggered. Hedge funds short the CDSs will not be happy, but we have been here before, as in last year when BofA rode to the rescue of Countrywide (maybe.) This is a market that will continue to punish speculators on both the long and the short side.
"Peripheral Visionary writes:
My understanding is that this will not be a default event for the CDSs. CDS language is typically focused on the bonds, and if the bonds are not being restructured, the instruments will not be triggered. "
If the notional values of the CDS's are high enough, this could be the major driver of the $2 / share.
So is BSC going form a value of $30 to $2 bullish for stocks? Another panic cut from the FED (which is already killing the dollar) is bullish too right? I think we could see a 500 plus point day on the DOW tomorrow in light of all this wonderful news.
19:14 *DJ Fed: Primary Credit Loans Extended To 90 Days From 30 Days
19:13 DJ Fed: Rate Will Be The Discount Rate
19:13 DJ Fed: New Lending Facility For Primary Dealers
19:13 *DJ Fed: Discount Rate Lowered 0.25% To 3.25%
19:13 *DJ Fed Announces New Credit Lending Facility
I was checking out the CBNC website and Wilmington Trust (WL) was the largest institutional investor, owning some 27M+ of BSC shares. Can someone else have an alternative source that confirms this? At year-end, WL wasn't listed as a significant institutional investor at all. If they have as much exposure to BSC as CNBC website says, they are effectively bankrupt as well since the BSC sell-off eliminates all of their existing stockholder equity and more!
The Chicago-traded Nikkei futures contract settled at 12,110 points, down from at 12,390 at the Osaka Securities Exchange on Friday and suggesting a weak start for the market.
The World is coming un-glued, like electrons spinning out of orbit:
Rioting erupted in a province neighboring Tibet on Sunday, two days after violent protests by Tibetans against Chinese rule in Lhasa in which the region's exiled representatives said 80 people had been killed.
Tibet's spiritual leader, the Dalai Lama, said the Tibetan nation was in serious danger and called for an investigation into what he called cultural genocide in his homeland.
Given the market's behavior over the last couple of months, I'd say the market will spike upwards bigtime tomorrow.... and then give it all back with the next round of bad news on Wednesday.
Maybe I'm not getting this. With the new Fed primary credit rate at 3.25 and inflation surely at 4, regardless of what the new and "improved" BLS stats say, doesn't that mean that the government will be paying insolvent companies to borrow our money to stay afloat?!? I've gotta be missing something.
$2 should help everyone remain calm, it's not like a fire sale or something really bad, so I'm sure when japan opens, this will look like a heck of a good job and everyone will be friends now and share cookies and warm milk. Make mine a triple!
If the value of Bear, minus it's building, was worse than -$1E9, then securities lawyers are going to have a lot of fun with Bear's executives public statements over the last week.
That's as close to wiping out current shareholders as one's likely to see without a full BK, which we don't want because the ripple effects would fuck up everything, but it'd certainly be nice to see some clawback on those record '07 bonuses.
Not to beat a dead horse into submission, but The FBI issue must have triggered a lot of new details and one can imagine the fear of God is in a lot of CEOs tonight ... Nah, every last scumbag CEO and wall steeet scum will play this game until locked behind bars, where they will continue to gamble with soap, TP, food and sex. Animals always come out on top!
How can you say the JP Morgan "bought" Bear Stearns if the Fed gave them $30 billion, and they spend $236 million on Bear? Is it still not a Fed bailout? What happens to the liabilities?
Bot it for $200 million in stock, and got a $30 BILLION loan to do so. I'm going out on a limb here and guessing that somebody might think some of the assets are not quite worth book value.
Back to The FBI, is someone out there going to explain to me why The Fed is in a conspiracy to bail out these people with antitrust collusion, which smacks of fraud, lies, false and misleading information and the "F---King" proof that Bear was running a con game .. supported by The Fed, with all this bogus TAF crap!
Why should a broken casino be bailed out at The Fed lending window and then be supported and coddled along as if they had integrity?
This is a shame that should have a Special Investigation in the morning by Congress and The Senate and DOJ should be F----King investigated for allowing this S---T to go on and stop being pus__ies and bust The Bush Coup and take control of America and not let these crooks continue running this scam!
This lack of Federal control has destroyed this country, we have F---king proof that there was no oversight, no regulation, no enforcement and no justice or law! We have allowed anarchy to rule this country and now we have shells of banks filled with very rich crooks that now want taxpayers to give them more> F--K you wall street!
How about the dumb money on display Friday? News of a bailout spiked BSC up 13% almost immediately. After I picked my jaw off the floor, I got the rest of my cash into more SKF.
I'm an absolute idiot because I should have bought any BSC put available. SKF was literally the first thing that crossed my mind in a greedy frenzy.
Minutes later it starts down, down down. But why in the hell did it settle on $30? It didn't seem to move that much after the major gap down and it certainly didn't stop trading.
How many fools got in on $30 thinking "hey, it's cheap". What did they think they were buying at that point? Apparently no thought of it going to zero in the very near future. Solvency risk apparently doesn't enter into the equation.
This is the dumbest market I've ever seen. It's been only 5 years since the S&P got cut in half. Are Americans capable of only think long US equities? Do they not think the S&P 500 could get cut in half again?
Buy and hold for the long term my ass. I'm not going to live to be 150.
I guess I don't see the bailout. The Fed just made it clear that, if you go bust, your shareholders get effectively nothing. No bail out of Bear whatsoever. The Fed assumed some counterparty risk that other players had. I don't have a huge problem with that.
Everyone looked under the hood...and didn't like what they saw....BUT the FED needed a DEAL....bankruptcy was not an option.
$2 a share and a 25 beep discount rate from the Fed as a safety net...just 24 hours before the Fed Meeting.....
Just a glimpse of what lies "under the hood" of every major bank and financial institution in the US....what is anybody worth at this point? What is anybody's real book value at this point?
The Fed had to save a billion dollar buyout? Huh? I really dont get this, why the hell is The Fed in the business of being a broker to help JPM get a better deal? This still smells like an antitrust issue to me, where The Fed is helping one bank take over another bank, who will gain a larger market, as a result of this collusion. Bear should have failed on its own, The Fed set a very bad precedent here getting involved in a deal that amounted to $1 Billion. That's chicken feed!!
There are 6541 corporations in American stock markets that have a market of under $1 Billion. Is The Fed going to bail out Cooper Tires, Evergreen Solar, Capella Education, Omnivision, and any business that makes bad bets and plays retarded casino gamblers?
Keep It Simple, I'm Stupid writes:
I guess I don't see the bailout. The Fed just made it clear that, if you go bust, your shareholders get effectively nothing. No bail out of Bear whatsoever. The Fed assumed some counterparty risk that other players had. I don't have a huge problem with that.
Keep It Simple, I'm Stupid | Homepage | 03.16.08 - 8:19 pm | #
the problem is they can't decide what they want.. Trying to encourage banks to raise equity but indirectly telling any investor who does that they are on their own if things go pear. They have "solved" a liquidity problem for the time being but nothing to help regarding capital positions.
The reality here, is that Helicopter Ben has a thesis, and I quote, " We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation."
Ben, is going to crash The Dollar at any cost, in order to save wall street.
He further states:
If we do fall into deflation, however, we can take comfort that the logic of the printing press example must assert itself, and sufficient injections of money will ultimately always reverse a deflation.
Ben, wants to be in the business of using discretionary judgements to bail out who he wants to help and then use antitrust collusion to connect one friend to another, kind of like hooking up NAR with Countrywide, or bailing out Wells Fargo because Fannie has too much garbage, or maybe we should save Burger King and help Taco Bell gain market share......... what is going on here is wrong! The job of the Fed is to not to bail out crooks on wall street and add Fed cash to the XMAS bonus they just got, The Fed needs to be busted like a mafia organized crime ring!
I pulled this out of thin air the other day, but as with most crap, it has no meaning!
As of the date of this prospectus, we have issued approximately $103,755,094,650 aggregate principal amount of Senior Debt Securities under the Senior Indenture, of which $32,752,155,000 is currently outstanding. As of the date of this prospectus, we have not issued any Subordinated Debt Securities.
Bear Stearns Companies Inc · 424B5 · On 1/31/08
Filed On 1/31/08 5:15pm ET · SEC File 333-136666 · Accession Number 1047469-8-745
I need some booze and some serious mind altering music, before the lights go out; guess I should fill up the tank too, before that drink!
As of the date of this prospectus, we have issued approximately $103,755,094,650 aggregate principal amount of Senior Debt Securities under the Senior Indenture, of which $32,752,155,000 is currently outstanding.
Bear Stearns Companies Inc · 424B5 · On 1/31/08
Filed On 1/31/08 5:15pm ET · SEC File 333-136666 · Accession Number 1047469-8-745
Wow, I find this so entertaining. I came across this quote from a Bloomber article:
``It's hard to stimulate an economy when the currency is going down the tubes,'' said David Malpass, the chief economist at Bear Stearns & Co. The New York-based firm expects the dollar will fall to $1.60 per euro in 12 months.
Why would anyone want a quote from the chiet economist at Bear Stearns? David Malpass has to be one of the biggest losers in the financial world.
This guy's currently working at Bear and may need to brush up his resume soon. Any suggestions or reviews would be great, looks like he's going to need it!
First.
Timberrrrrrrrrrrrrrrrr!!!!!
That's as close to getting it for free as they possibly could. Can someone figure out how much Ace Greengerg is worth now? Maybe no more that you or I?
Oh My God!!! I am totally shocked (But not suprised).
holy shit. Thats valuing the business minus the building at negative a billion.
$2 a share? At that price, I will like to buy some Bear Stearns share, too.
So what does this say about the value of MER?
Boy, I wish I had bought me some shares a year ago at $150,
2 (Two) dollars a share is close enough to 0 (ZERO!)
Does this effectively mark to market the IBs?
Who wants to bet on the limit down tomorrow?
Wow. If they offered zero, Bear would have just gone BK. So this is about as low as it could go. I haven't seen the details yet, but the Bear bondholders are probably going to be happy monday morning.
Best to all.
Gold just went up another $3 in last 5 minutes
jimmy cayne still has $10 million to play bridge with.
Is this a 'default event' for the CDS's?
Maybe that has something to do with it.
Current stockholders at (previously) $30/shr are not, repeat not, going to be happy. Enter the securities lawyers . . .
"The Fed will provide special financing in connection with this transaction. The Fed has agreed to fund up to $30 billion of Bear Stearns' less liquid assets."
Sheesh, another $30 billion!
Squeezed:
You beat me to the post. I was just going to ask the same question. This does not bode well for any of the IBs.
But how much is the CEO's golden parachute is what I want know
I heard Buffet will buy it at $3/share.
Love it. Proves what the IBs are worth.
WOWZA! Talk about "marked to market"! That is some sick stuff!
Here is my main thought point for the night:
The FED is betting the house on this point;
No Other Major Bailout is Needed - I want you to consider a very real point; What if Morgan Stanley or Lehman Brothers had the same blowup as BSC this week or next? What if BOTH did? Can the FED really supply THAT MUCH LIQUIDITY? If two or more entities bought the farm we could be looking at dollar values in the Trillion range for assistance. What would that do to the dollar? What would that do to the US's credibility of EVER paying up on our debt? The FED is really gambling the house on this point. As they say over at Minyanville, "Risk is extremely high".
Transcript of final 30 seconds of negotiations:
BSC: Two.
JPM: One
BSC: Two.
JPM: One
BSC: Two.
FED: JPM, we'll back you.
JPM: Okay, two.
My understanding is that this will not be a default event for the CDSs. CDS language is typically focused on the bonds, and if the bonds are not being restructured, the instruments will not be triggered. Hedge funds short the CDSs will not be happy, but we have been here before, as in last year when BofA rode to the rescue of Countrywide (maybe.) This is a market that will continue to punish speculators on both the long and the short side.
The Fed just announced some new liquidity initiatives too. Talk about panic ...
Best to all.
Fed just did emergency cut of .25 basis points and added new lending facility. This is on AP.
Marcus, LOL.
Only 368 visitors on line?
Every post after Marcus. Oh sh**.
Gold back down $3 to $6 up
The building is valued at $1.3b so the price sans corporate HQ was negative $1.1b!
Sorry -- Fed cut the DISCOUNT rate to 3.25. Sorry for error above.
"Peripheral Visionary writes:
My understanding is that this will not be a default event for the CDSs. CDS language is typically focused on the bonds, and if the bonds are not being restructured, the instruments will not be triggered. "
If the notional values of the CDS's are high enough, this could be the major driver of the $2 / share.
$2/share doesn't make much sense.
Yes two bucks per share...and one s*** load of debt and counter party risk (no doubt now backed by the US gov.)
What happens to all those options for key staff at say $50.00 each - the best will leave, the worst will leave, clients have already left.
Just in time for Asia to open.
For two bucks a share they do also get some very nice office space.
I would say massive layoffs in one month. Just dont need 14k employees. Maybe 1200-1500 for clearing tahs about it.
So is BSC going form a value of $30 to $2 bullish for stocks? Another panic cut from the FED (which is already killing the dollar) is bullish too right? I think we could see a 500 plus point day on the DOW tomorrow in light of all this wonderful news.
The should have flipped it to Flowers (sans building)
Can someone confirm?
Massive Fed intervention before Asian open.
19:14 *DJ Fed: Primary Credit Loans Extended To 90 Days From 30 Days
19:13 DJ Fed: Rate Will Be The Discount Rate
19:13 DJ Fed: New Lending Facility For Primary Dealers
19:13 *DJ Fed: Discount Rate Lowered 0.25% To 3.25%
19:13 *DJ Fed Announces New Credit Lending Facility
Mark MS and LEH to single digits tomorrow.
Wow!
Guys, move up one post
Cant wait 'till we see the downdraft: USD dow
Wild day. Isn't today Sunday?
Best to all.
I was checking out the CBNC website and Wilmington Trust (WL) was the largest institutional investor, owning some 27M+ of BSC shares. Can someone else have an alternative source that confirms this? At year-end, WL wasn't listed as a significant institutional investor at all. If they have as much exposure to BSC as CNBC website says, they are effectively bankrupt as well since the BSC sell-off eliminates all of their existing stockholder equity and more!
And didn't Moody's just downgrade BSC? Isnt that an event of default? Going to go over and check moody's site now.
Now, is everybody happy that this wasnt much of a bailout....
New thread up yonder.
I am sure glad it was not the $15-20 annoucned but I still think JPM paid $2 over.
Moody's downgrades Bear Stearns to Baa1; continues to review down
Approximately $80 billion of debt securities affected
New York, March 14, 2008
Hmmm:
The Chicago-traded Nikkei futures contract settled at 12,110 points, down from at 12,390 at the Osaka Securities Exchange on Friday and suggesting a weak start for the market.
P-A-N-I-C!
U.S. stock futures rocking on the Fed moves. If that holds, I'm taking the morning off to load up on puts.
Am I seeing correctly that the futures markets are forecasting the Dow up 130 points tomorrow?
If not, someone correct me, if so, WTF?
Stan
The World is coming un-glued, like electrons spinning out of orbit:
Rioting erupted in a province neighboring Tibet on Sunday, two days after violent protests by Tibetans against Chinese rule in Lhasa in which the region's exiled representatives said 80 people had been killed.
Tibet's spiritual leader, the Dalai Lama, said the Tibetan nation was in serious danger and called for an investigation into what he called cultural genocide in his homeland.
What was that BS building worth again? JPM just bought a new (for them) office building with a company thrown in.
While this incredible amount of money is thrown at wild-ass speculation gone bad in NY, 20,000 teachers in CA are getting layoff notices.
566 visitors.
Is that a Sunday night record?
I've got 584.
600!
Given the market's behavior over the last couple of months, I'd say the market will spike upwards bigtime tomorrow.... and then give it all back with the next round of bad news on Wednesday.
Maybe I'm not getting this. With the new Fed primary credit rate at 3.25 and inflation surely at 4, regardless of what the new and "improved" BLS stats say, doesn't that mean that the government will be paying insolvent companies to borrow our money to stay afloat?!? I've gotta be missing something.
549 visitors and rising.
*
$2 should help everyone remain calm, it's not like a fire sale or something really bad, so I'm sure when japan opens, this will look like a heck of a good job and everyone will be friends now and share cookies and warm milk. Make mine a triple!
this will encourage the SWF's to invest more equity.. not.
law of unintended consequences and all that
CR reached a high of 600 but has now DROPPED to 595. I hope this isn't an omen for tomorrows market.
I have 612, but have a rumor that Tanta is adjusting the feed
If the value of Bear, minus it's building, was worse than -$1E9, then securities lawyers are going to have a lot of fun with Bear's executives public statements over the last week.
621
638!
Great point, ByeBye.
That's as close to wiping out current shareholders as one's likely to see without a full BK, which we don't want because the ripple effects would fuck up everything, but it'd certainly be nice to see some clawback on those record '07 bonuses.
BSC market cap last Thursday $8B, today $0.25B. Party on.
Not to beat a dead horse into submission, but The FBI issue must have triggered a lot of new details and one can imagine the fear of God is in a lot of CEOs tonight ... Nah, every last scumbag CEO and wall steeet scum will play this game until locked behind bars, where they will continue to gamble with soap, TP, food and sex. Animals always come out on top!
How can you say the JP Morgan "bought" Bear Stearns if the Fed gave them $30 billion, and they spend $236 million on Bear? Is it still not a Fed bailout? What happens to the liabilities?
BSC: Basic Chart for ELEMENTS BG SM CP ET - Yahoo! Finance
670!!!!!!
Unbelievably, Dow futures seem to like this: +79 as I write, S&P +7.6.
Is the visitor online count a market indicator in any way?
Tomorrow will be a wild ride..
It's pretty sad when our financial institutions are ending up on the dollar menu. (with inflation)
Pray.
Bot it for $200 million in stock, and got a $30 BILLION loan to do so. I'm going out on a limb here and guessing that somebody might think some of the assets are not quite worth book value.
So how much did Lewis loose in this? About $800M? Oh well, a fool and his money ...
zackattach, what figures are you looking at? I''ve got mini-Dow futures at -74 here:
Sorry. Page not found.
Is this delayed?
Back to The FBI, is someone out there going to explain to me why The Fed is in a conspiracy to bail out these people with antitrust collusion, which smacks of fraud, lies, false and misleading information and the "F---King" proof that Bear was running a con game .. supported by The Fed, with all this bogus TAF crap!
Why should a broken casino be bailed out at The Fed lending window and then be supported and coddled along as if they had integrity?
This is a shame that should have a Special Investigation in the morning by Congress and The Senate and DOJ should be F----King investigated for allowing this S---T to go on and stop being pus__ies and bust The Bush Coup and take control of America and not let these crooks continue running this scam!
This lack of Federal control has destroyed this country, we have F---king proof that there was no oversight, no regulation, no enforcement and no justice or law! We have allowed anarchy to rule this country and now we have shells of banks filled with very rich crooks that now want taxpayers to give them more> F--K you wall street!
This is not a $30b loan. It is a $30 billion non-recourse (don't have to pay it back therefore it is a gift) "loan".
files.shareholder.com/downloads/ONE/260969463x0x180609/8cbd90fb-0f16-4238-a908-e0a07a904682/JPM_Bear%20FINAL.pdf
"Is the visitor online count a market indicator in any way?"
It's probably due to a Matt Yglesias plugging this site on his Atlantic blog. That's where I came here from.
How about the dumb money on display Friday? News of a bailout spiked BSC up 13% almost immediately. After I picked my jaw off the floor, I got the rest of my cash into more SKF.
I'm an absolute idiot because I should have bought any BSC put available. SKF was literally the first thing that crossed my mind in a greedy frenzy.
Minutes later it starts down, down down. But why in the hell did it settle on $30? It didn't seem to move that much after the major gap down and it certainly didn't stop trading.
How many fools got in on $30 thinking "hey, it's cheap". What did they think they were buying at that point? Apparently no thought of it going to zero in the very near future. Solvency risk apparently doesn't enter into the equation.
This is the dumbest market I've ever seen. It's been only 5 years since the S&P got cut in half. Are Americans capable of only think long US equities? Do they not think the S&P 500 could get cut in half again?
Buy and hold for the long term my ass. I'm not going to live to be 150.
8pm tonight conference call.
Baby, if you're feeling good
And baby if you're feeling nice
You know your man is workin' hard
He's worth a Deuce
I want my two dollars!
Thought for the day.
Bear fell 50% Friday
Bear fell 98% today
Every shareholder is going to be in a class action litigation and destroy the buyer. Is The fed going to bail out the buyer now too? This is retarded
772 visitors online. shit.
I guess I don't see the bailout. The Fed just made it clear that, if you go bust, your shareholders get effectively nothing. No bail out of Bear whatsoever. The Fed assumed some counterparty risk that other players had. I don't have a huge problem with that.
2 dollars a share is a euphamism for bankrupt.
Is it even $2 a share? Where does JPM go tomorrow?
No sovereign wealth funds
No Goldman Sachs
No China Funds
No Large Billionaires
No other takers....none.
Everyone looked under the hood...and didn't like what they saw....BUT the FED needed a DEAL....bankruptcy was not an option.
$2 a share and a 25 beep discount rate from the Fed as a safety net...just 24 hours before the Fed Meeting.....
Just a glimpse of what lies "under the hood" of every major bank and financial institution in the US....what is anybody worth at this point? What is anybody's real book value at this point?
My take? RUN...FAST...don't walk.
Good luck to all
Do your own due diligence
WU
The Fed had to save a billion dollar buyout? Huh? I really dont get this, why the hell is The Fed in the business of being a broker to help JPM get a better deal? This still smells like an antitrust issue to me, where The Fed is helping one bank take over another bank, who will gain a larger market, as a result of this collusion. Bear should have failed on its own, The Fed set a very bad precedent here getting involved in a deal that amounted to $1 Billion. That's chicken feed!!
There are 6541 corporations in American stock markets that have a market of under $1 Billion. Is The Fed going to bail out Cooper Tires, Evergreen Solar, Capella Education, Omnivision, and any business that makes bad bets and plays retarded casino gamblers?
Check it out: Stock Screener Results - Yahoo! Finance
Keep It Simple, I'm Stupid writes:
I guess I don't see the bailout. The Fed just made it clear that, if you go bust, your shareholders get effectively nothing. No bail out of Bear whatsoever. The Fed assumed some counterparty risk that other players had. I don't have a huge problem with that.
Keep It Simple, I'm Stupid | Homepage | 03.16.08 - 8:19 pm | #
the problem is they can't decide what they want.. Trying to encourage banks to raise equity but indirectly telling any investor who does that they are on their own if things go pear. They have "solved" a liquidity problem for the time being but nothing to help regarding capital positions.
Just looking at the futures on Bloomberg is all...
Stock Futures on Bloomberg
Dow reversed in the course of about 15 minutes, I show him at -101, delayed.
Yeah, someone was trying to do an early tape-painting job.
Still, no idea what's going to happen tomorrow.
The reality here, is that Helicopter Ben has a thesis, and I quote, " We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation."
Ben, is going to crash The Dollar at any cost, in order to save wall street.
He further states:
If we do fall into deflation, however, we can take comfort that the logic of the printing press example must assert itself, and sufficient injections of money will ultimately always reverse a deflation.
Ben, wants to be in the business of using discretionary judgements to bail out who he wants to help and then use antitrust collusion to connect one friend to another, kind of like hooking up NAR with Countrywide, or bailing out Wells Fargo because Fannie has too much garbage, or maybe we should save Burger King and help Taco Bell gain market share......... what is going on here is wrong! The job of the Fed is to not to bail out crooks on wall street and add Fed cash to the XMAS bonus they just got, The Fed needs to be busted like a mafia organized crime ring!
850 simultaneous visitors. will we break 1000?
I pulled this out of thin air the other day, but as with most crap, it has no meaning!
As of the date of this prospectus, we have issued approximately $103,755,094,650 aggregate principal amount of Senior Debt Securities under the Senior Indenture, of which $32,752,155,000 is currently outstanding. As of the date of this prospectus, we have not issued any Subordinated Debt Securities.
Bear Stearns Companies Inc · 424B5 · On 1/31/08
Filed On 1/31/08 5:15pm ET · SEC File 333-136666 · Accession Number 1047469-8-745
JPM 29.75 4 25000
I need some booze and some serious mind altering music, before the lights go out; guess I should fill up the tank too, before that drink!
As of the date of this prospectus, we have issued approximately $103,755,094,650 aggregate principal amount of Senior Debt Securities under the Senior Indenture, of which $32,752,155,000 is currently outstanding.
Bear Stearns Companies Inc · 424B5 · On 1/31/08
Filed On 1/31/08 5:15pm ET · SEC File 333-136666 · Accession Number 1047469-8-745
JPM gave BSC's shareholders a $2 slap on the face.... $1.00 per side.
NIK down 3.5% after the first hour of trading...
Wow, I find this so entertaining. I came across this quote from a Bloomber article:
``It's hard to stimulate an economy when the currency is going down the tubes,'' said David Malpass, the chief economist at Bear Stearns & Co. The New York-based firm expects the dollar will fall to $1.60 per euro in 12 months.
Why would anyone want a quote from the chiet economist at Bear Stearns? David Malpass has to be one of the biggest losers in the financial world.
To the poster talking about Wilmington Trust's $2.2BN holdings of BSC:
Those 27.3MM shares were part of compensation agreements for Bear's senior management. Wilmington doesn't seem to have any exposure.
I investigated because I have some cash stored with WTDirect.
How old is that quote? Dollar is at almost 1.58 per euro today. Yow.
This guy's currently working at Bear and may need to brush up his resume soon. Any suggestions or reviews would be great, looks like he's going to need it!
Browse Resumes | Razume.com - Your Resume Review Community
Amend that. It broke 1.59. Eeek.