raman kandola

The Deal of the Year: JP Morgan Buys Bear Stearns

BSC getting bought for $2 dollars. I saw that on my bloomberg screen, I thought it might be wrong, or it would be corrected to $20 dollar. When I have it verified through the other news network. I am just amazed that a company whose book value is over $75 dollars is getting sold for $2 dollar. What really happen, there new office building alone is worth over a billion dollar. And prime brokerage should be another billion >?

What happen to Joseph Lewis, billionaire FOREX trader. He lost all his money he invested with BSC. He dollar cost average was around $106- $107 dollar. With stocks valuing close to over a billion dollar.
Jimmy Cayne who lost a big chunk of his net worth, which every one of us blaming him for his golf, and bridge games ??

Did BSC did really help us get the deal close, to save the over all market. Or it is the "Plunger Protection Team". Or was there an out side agreement between the BSC Executive, and FED's.

Practically it is the FED bailing them out, omnimus sign on wall street ? We are looking for a 1% point rate cut, if not the rate cut would not really boost the market. In this time, the confidence of the market is really shattered. The idea is it would not go over night, we are going through a bad patch.