I had almost finished my blog discussing the 47% drop in the stock price of Bear Stearns when Mullah Luis called.
" Have you watched the news man?
"You are going to live 100 years man. I was writing about you on my blog"
" Bear Stearns is done man. They are history. JP Morgan did them for $2 a piece"
The topic of this blog was suppose to the bail out of Bear Stearns by two "private" banks, JP Morgan and Federal Reserves. I, had assumed that Federal Reserve is an arm of the US Government ( Like RBI) until Mullah Luis sent me the links above. Federal Reserve is as private as any other business in the US.
Well, the market was expecting that JP Morgan would buy Bear Stearns for $16 per share next week but this was a shocker. It is hard to imagine how a stock which was trading for about $160 a year ago was sold for $2 today. A lot of people are going to wake up with some serious losses tomorrow morning. The markets in Japan, Hong Kong and India are not even opened yet. It is going to be a long night for some folks...
We were reluctant to use the word " Recession" but it sounds like we are now headed for a "Depression"!!
PS: Mullah says he has been so depressed lately that he is beginning to find comfort in word depression. He believes that he can handle a bad depression better than a mere recession....
Fasten your seat belts folks....it is going to be a some hard landing!
" Have you watched the news man?
"You are going to live 100 years man. I was writing about you on my blog"
" Bear Stearns is done man. They are history. JP Morgan did them for $2 a piece"
The topic of this blog was suppose to the bail out of Bear Stearns by two "private" banks, JP Morgan and Federal Reserves. I, had assumed that Federal Reserve is an arm of the US Government ( Like RBI) until Mullah Luis sent me the links above. Federal Reserve is as private as any other business in the US.
Well, the market was expecting that JP Morgan would buy Bear Stearns for $16 per share next week but this was a shocker. It is hard to imagine how a stock which was trading for about $160 a year ago was sold for $2 today. A lot of people are going to wake up with some serious losses tomorrow morning. The markets in Japan, Hong Kong and India are not even opened yet. It is going to be a long night for some folks...
We were reluctant to use the word " Recession" but it sounds like we are now headed for a "Depression"!!
PS: Mullah says he has been so depressed lately that he is beginning to find comfort in word depression. He believes that he can handle a bad depression better than a mere recession....
Fasten your seat belts folks....it is going to be a some hard landing!
2 comments:
in sab ko samajh mein rakhna mushkil hai ..!
yehi tumhare artist hone ki nishani hai...but dont Ignore it...ur tommorrow might need this info.
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