Tom Richardson

Wall Street Breakfast: Must-Know News

Regarding the Constellation Energy buyout competition: check out the financing. The Federal Reserve Bank of the US is providing a lending facility to JP Morgan who lends the money to a French owned company (EDF) to take over a US company (Constellation). EDF had the gaul to report that they were using the lending facility to finance the takeover. "I'm from the Government and I'm here to help."

P.S. We taxpayers are bailing out Cerberus who owns Chrysler? They presided over the bankruptcy of Mervyns. We bail them out because they were arrogant enough to think they could turn around Chrysler? Enough is enough.