Friday, March 14, 2008
bear stearns is failing
forget carlyle. we now have the investment bank failure that everyone thought we'd need to see before the crunch alleviated.
question is: will there be more?
for what it's worth, it looks to me like jpmorgan is positioning to be the one who takes over bear for pennies on the dollar, a la warren buffett vulturing salomon brothers.
Robbing Peter to pay Paul...to rob and pay Peter and Paul?
"The Song That Never Ends" meets "The Emperor Has No Clothes" nightmare continues.
What a mess. God help us all.
Thanks for your great blog.
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