1. http://www.bloomberg.com/apps/news?pid=20601087&sid=anMNUEv7YGAM&refer=home
JPM got a whale of a deal. The Bear Stearns building alone is worth approx. $1 Billion. Add that to the fact that the government appears to have guaranteed the super risky part of Bear's portfolio and you see that there is very little risk to JPM, but a HUGE upside. The value all depends on the term sheet that JPM and the Gov. agreed.too.
For full discloser I did take some liberty with parts of the letter. I have not found any info. regarding insider stock sells or stock selling/put option impropriety by the mgmt. of BS which I eluded to. In two or three years these events will make a great book.
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Where is the bottom????? I don't think we have hit it. Wait until the numbers come out for this quarter. Oh, and next will be worse. Who the hell has the wool over peoples eyes? Soon to be $3.50+ per gallon for gas, the falling dollar(I HATE Bernanke!!!), the credit crunch, etc... This is not sustainable something has got to give and the American consumer is going to get screwed over in the end. WHERE IS GREENSPAN???? (Stepping off my soapbox) Clint what do you think?
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