BSCLoser

Explaining the Bear Stearns Rescue

How can one ever believe Wall Street after the BSC debacle? CEO Schwartz was on CNBC reassuring the public by vouching for the liquidity of Bear and at the same time desperately looking for a bailout. The book value of the stock was $80 to $100 depending upon the source. Goldman and JP Morgan allegedly had a hand in the undoing of Bear. The employees and shareholders had no warning and were caught up in one of Wall Streets biggest robberies. Shame on those responsible, they should go to jail!