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Wall Street Breakfast: Must-Know News

we know the inside the beltway group understands little and only works to improve their lot in life. yesterday's news, Greenspan did not do it, the Dems did not do it nor did the Reps, it just happened. I understand there is a plan to make more ethenol from all food groups including beer and wine, that will certainly help our future. Maybe I can apply for an earmark

Bear Stearns Given Away, Not Sold

price does not always equal value, how much was paid for the Mark Maguier baseball, and what is it worth?

A Dozen Notes on Our Manic-Depressive Credit Markets II

I would think you would point out that banks provide the construction lending to the builders/joint developers. With land write downs and defaults on JVs these loans will also be reclassified and the outrageous cost for land will be haved. Didn't one of the builders sell land valued at 1.5B to a bank/dealer for 750M. What are the total $ outstanding construction finance by banks. Lets add that to the home equities, credit cards and other non r e loan problems for a better view of what will probably occur as we continue down the path. The self serving collusion of the raters and ratees is mind boggeling is your really think about it. Statements to the effect of "well these write downs are clearly excessive because there is value there" is simply beyond comprehension. Maybe we need a new class of financial statements
called "what we like to think it is" and prepared using the system of best guess. It is really starting to appear that no one knows what is, really is. Maybe it is time we found out.

Why JPMorgan Should Buy Bear Stearns

I will make you the same deal the Government does on your taxes, give me a dollar and I will give you 27 cents. Why buy what has unknown value? Deposits gone, clients gone, securities value unknown, location across the street? and didn't the back office get them where they are now? Maybe E Bay would have a buyer.

How Systemically Important Is Bear Stearns?

Given time, I am sure I could name more than 25 major banks and financial houses that disappeared in the 80's and 90's in name only. Their functions were simply assumed by others and the world continued. My county in California went BK but nothing changed and those responsible for stupid investments continued to be paid. Pick a name, if it goes away the market carries on. The hoopla and hand wringing supports election year hysteria and I am sure the media will continue to provide us with continuing crisis events for the next months, or at least until the November elections.

Subprime Write-Downs More Than 50% Done? Write-Ups Coming Next?

without real transparency there is no trust, look as BSC today. are we suppose to believe that everything happens in just one day? BS