tjhorton

Street Fighters: The Last 72 Hours of Bear Stearns, by Kate Kelly

Much has been written about how tight the U.S. Fed and Treasury are with J.P. Morgan and Goldman Sachs. Don't you think that had something to do with it?

The Fed gave J.P. Morgan a $29 Billion sweetheart loan to buy Bear Stearns, with $1 Billion down and no further downside.

Bear Stearns was taken down viciously, and sold by decree for $2/share (bumped to $10 in the face of shareholder lawsuits). THEN they started saving investment banks 2 days later?

America is really starting to frighten me. The biggest financial and millitary interests seem to be running it like a banana republic.

The public seems astonishingly disinterested in the trillions flowing to these interests ... tens of thousands of dollars per taxpayer.