Housed

Bear Stearns: Why It's Safe to Bet Against Joe Lewis

I have a hard time believing Joe Lewis is just going to roll over and give up on the deal. He is worth somewhere in the neighborhood of $5b and has lost $1b. At $2 - $6 per share it will cost him and his crew another $500mm to scoop up over 51% of the company. If you have read any history on this guy, he has basically made a fortune trading currencies. To me that means that he does not sit in front of a couple monitors and get long the euro or yen for a day, he is good buddies with Soros, these guys operate on a different level. There are several outcomes he can profit from by stepping in here. Additionally, this would be one the greatest shareholder victories in our lifetime. I mean, are you kidding me, the Fed says they won't back any other deal except the JPM/BSC deal.......we still live in America don't we? If you evaluated any BS of any big bank right now, they are all basically worthless, that is more than obvious.