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Bear fetches $2/sh, because they had no defensible franchise really. Over the years US I-Banks have seen their roles rapidly change. As they have no deposit funding sources, all they are is a franchise made up of human capital. Yes if you have few intelligent and many moron's then (as many at Bear are these days - real moron's and I have dealt with many of them as recently as last year and all the way up to the Top) the $2 is great value for nothing!
Mar 17 10:33 am
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All Comments by Sunil Suri »Why $2? [View article]
Next shoe to fall is Lehman.
Then Carlyle? Blackstone? and a host of others that run the next big nonsense business - 2% and 20% for them - on money they run from others - where is the risk in this for them? they make money while others that invest in them loose, is such abject nonsense.
Surprising that we allow such shenanigans play!