Monday, March 17, 2008

$2 broker




JP Morgan looks to have made one of the great deals of all times, buying Bear Stearns for $2 a share. The question now is with Bears book value of over $80 per share what does that mean for the value of other Investment Banks ? The Bear take over sends a strong little noticed signal, the signal is that if you “step up” as the buyer of very troubled assets the FED will grant you a prize.

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