Posts Tagged ‘Wall Street’

Global Credit Crisis – JP Morgan + FED tell Bear Stearns Your Mine

March 17th, 2008 admin

The 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]

Posted in Business Tags: , , , , , , , , , No Comments »

Bear Stearns is Given Away – World Markets in Deep Credit Fall

March 17th, 2008 admin

You thought the housing market is bad, the credit crises continues its amazing downward spiral. The fear is this type of swift meltdown is just the beginning. From a multi billion dollar company (24 billion at its 52 week high) to be sold for 236 million virtually overnight, is nothing less than shocking.. and fearful. Poor ol Bear Stearns!

The biggest sign of how devastating the credit crisis is for Wall Street, slammed the U.S. dollar to a new record low against the euro and pummeled Asia stock markets early Monday.  The housing crises is truely nothing in comparison of the downfall of the global credit market. Whats to blame you ask…. how about international greed at the biggest levels! Bear Sterns and its big stick is now limp.

[nms:wall street journal,8,0]

Posted in Business Tags: , , , , , , , No Comments »

Spitzer Associated to Emperors VIP Prostitution Ring

March 10th, 2008 admin

We have a great story that american’s will want all the details for. Elliott Spitzer, Attorney General, Governor, and a loving his whores! The Emperors VIP Club, is a well known international prostitution ring that got busted quite recently.

US authorities have smashed an online escort service that gave its prostitutes a one to seven diamond-ranking, with a “seven diamond” woman costing $US5500 ($5921) an hour. The ring was known as the Emperor’s Club VIP and offered 50 prostitutes in New York, Paris, Washington, Miami and London, The New York Times reported. The appointments, made through an online booking service, cost between $1076 and $5921 an hour.

 What makes the connection to Spitzer so interesting are the details… of course! He was known as “Client 9″.  He got caught via wire tap.. SWEET! In a call that was wiretapped,  he was having a woman travel from ny to washington. He had a room reserved for this woman.

If you can forget about the price, and the high level person involved, the date of this lovely transaction occurred on Feb 13. According to investigators, the day before Valentine’s Day is the one day where cheaters unite. Yep thats right, Feb 13 is the most popular day for cheating. Gotta love the American Way!

Back to Spitzer, when this news hit wall street, industry workers were loving this! Spitzer was very tough on Wall Street, and seeing the big guy go down without a stick, put smiles on the down market!

(more…)

Posted in Business, Personal Tags: , , , , , , , , , No Comments »