So now JP Morgan is going to pay $10 per share for Bear Stearns?
JP Morgan Agrees to Increase Bear Price
By Kevin Kingsbury – Wall Street Journal (24 Mar 2008)Bear May Have Lived
By Paul Tharp – New York Post (23 Mar 2008)
We can be confident that if the deal doesn’t make enough powerful people happy, it can just be re-jiggered tomorrow.
Since the citizenry is picking up the tab with an inflation tax, it wouldn’t be fitting that we get a piece of the equity so best not to let it look too rich. That’s us, Mr and Mrs. John Q. Public, all risk, and no reward. So might as well raise the price so the Bear Stearns shareholders can get more. Otherwise the $6 billion litigation budget might have to go up.
Don’t you just feel terrible for Bear Stearns? After years of profiting from systematic ethnic and economic cleansing of America’s neighborhoods and pushing crappy paper globally, they got rolled by the Rockefeller interests.
Big financial mafia swallows smaller financial mafia. Old money takes out new money. The centralizers keep centralizing. That’s how they do.