pacalis

Bear's Bigger Bid

I like your blog but this is a wimpy comment.

Obviously the funk on this is so high even the house that Morgan built is flip flopping.

But maybe throwing around an extra $1B isn't a big deal when you're getting the opportunity to run down $30B for free.

The Fed: On the Cusp of Moral Hazard

$30 billion bailout for a company with $16B in revenues and $6B in market cap pre-fed involvement. Negotiated in secret. And without congressional authority or mandate.

It's infuriating.