Global Credit Crisis - JP Morgan + FED tell Bear Stearns Your Mine
By admin • Mar 17th, 2008 • Category: BusinessThe world financial markets was working in overdrive through the weekend, til the amazing $2 a share deal of Bear Sterns from JP Morgan. You have many factors and loses are play here. First, is the 14,000 employees of Bear Sterns. I know first hand that many of the employees are beyond fearful. Bear Stearns is (WAS) a culture of very cocky and brash individuals. After losing their big stick swagger, looks like the job boards will be flooded with candidates.
On a different note, JP Morgan didnt get this company for free (eventhough it looks that way). The are TONS of assets in Bear Sterns that can not be valued. Furthermore, their are many companies that passed on the deal… and this is with a FED backed loan….. a great story of how a 20+ billion dollar company can perish to 236 million bucks in a sneeze.!
[nms:fortune magazine subscription,8,0]
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