Bear Stearns Stock Worth $2

Overall stocks actually gained about three percent for the week even now we had several bumps along the way. Lets look at a few.

Bear Morgans:
Earlier in the week we saw Bear Stearns implode with a subsidized government sale to JP Morgan, as well as the fed cutting interest rates by three-quarters of a point.

Please don’t take my car:
We believe at thong and bong that its absurd and the only real thing benefit to this government bailout is that several key Bear Stearns employees get to keep their Porsche’s for the time being.

Welcome to JP Morgan friends:
Bear Stearns dealers, traders and employees were all told this morning that they are put on a happy face because they are now JP Morgan employees and their stock, once as high as $170 dollars a share is now worth an amusing $2 dollars a share. Ouch! That’s the price of a Starbucks Coffee.

And the dollar drops a little more:
There has been a significant amount of attention around both the word “Recession” and the value of the dollar, which has fallen again this morning against the yen and the euro.