Eeek!
BEAR STEARNS COS THE
(NYSE: BSC)
| Last Trade: | 34.85 |
| Trade Time: | 12:52PM ET |
| Change: | ![\"Down\"](\"http://us.i1.yimg.com/us.yimg.com/i/us/fi/03rd/down_r.gif\") 22.15 (38.86%) |
| Prev Close: | 57.00 |
| Open: | 54.24 |
| Bid: | N/A |
| Ask: | N/A |
| 1y Target Est: | 100.33 |
| Day\’s Range: | 26.85 – 54.79 |
| 52wk Range: | 50.48 – 159.36 |
| Volume: | 125,438,847 |
| Avg Vol (3m): | 10,009,300 |
| Market Cap: | 4.75B |
| P/E (ttm): | 24.01 |
| EPS (ttm): | 1.523 |
| Div & Yield: | 1.28 (2.10% |
![\"\"](\"https://www.timworstall.com/wp-content/uploads/image/b.png\")
Erm:
The Federal Reserve responded swiftly to pleas from Bear Stearns that its coffers had "significantly deteriorated" within a 24-hour period. Central bankers backed an arrangement to bolster the company, and stood ready to provide extra resources to combat a credit crisis that now threatens one of America\’s biggest financial institutions.
Bear Stearns, the nation\’s fifth-largest investment bank, made its fortune dealing in opaque mortgage-backed securities — a strategy that might be its undoing amid the worst housing slump in a quarter century. The bank has racked up $2.75 billion in write-downs since last year, and faced a possible collapse without some kind of lifeline.
Bear Stearns lost half of its value within 30 minutes of the market open, before clawing back a bit to be down 41 percent, or $23.51, at $33.49 by midday. The news rattled investors, pushing the Dow Jones industrial average down about 150 points.
Think the yanks will nationalise? 😛
Hence the expression ‘bear market’.
What amazes me about the “free” market, is it’s free until it requires assistance… then it’s Keynes all the way!
Bear behind?
To be taken over and re-named Kredit Anstalt?
The glory of free market economics. 🙂
D, as in “The headmaster had a Stearn expression before he smacked the boy’s Bear behind”.
Dan: ¨What amazes me about the “free” market, is it’s free until it requires assistance… then it’s Keynes all the way!¨
Not been a free market for decades, and there are no ´free marketeers´ in any government in the western world.
I am just amazed that the vast Owl-killing Zionist Freemasonic International Conspiracy is so damn inept. I mean Carlyle and Bear Stearns?
Is this really what we invaded Iraq for?
(Warning the above may contain irony and was produced in the same facility as various assorted nuts)
Our government as we know it is not running this country anymore. We are run by the investment bankers and the Federal reserve which by the way is a private corporation.
Check out a book called Web of Debt by Ellen Brown.