Rome is Burning - Bear Stearns for $2 a share

News Type: Opinion — Seeded on Mon Mar 17, 2008 11:15 PM EDT

Article Source: Reuters

business, money, finance, america, recession, economics, dollar, gold, stock-market, financial-markets, investment-banks, depresion, golbal-markets

Seeded by Aunk (The Cultural Health Guy)

JPMorgan Chase & Co said on Sunday it would buy stricken rival Bear Stearns for just $2 a share in an all-stock deal that values the U.S. investment bank at the centre of the credit crisis at about $236 million.

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5.5

{"commentId":1590971,"authorDomain":"Aunk"}

Aunk (The Cultural Health Guy)

The headline could have read Bush's America is burning. The stock was $30 a share on Friday and $2 a share on Monday. What happened, there was a run on the bank, that is what happened.

Their building is worth $8 a share what is going on. Simply put the greedy thieves drove Bear bankrupt and Bush and forty thieves gave them corporate welfare. The Federal Reserve which, is neither federal nor has any reserves, gave JPMorgan the green light to steal the Bear at $2 a share. They also promised to print money out of thin air and give it to JPMorgan if they should loose money on the Bear Stearns robbery.

70% of economists recently surveyed said we are in a recession. I add we are headed for Depression and they don't want to tell us because they feel it will frightened us. They are right but we already know in the BlogOspher and the public will know before the end of the month as the rest of the financial house of cards continues to crumble.

Cultural Health Commentary. Why should African Americans give a dame. Because of the old saying, when White America catches a cold Black America will get pneumonia. My recommendation is get out of paper, any type of paper. Put the majority of your assets in gold. If you can afford bars get them, if not get coins. Carry what you can in your pockets, put some under your pillow and put the important portion in a safe overseas bank. Do not leave assets in American financial institutions the risk is to great. Remember $30 Friday and $2 on Monday. The thieves can destroy your life's work over the weekend. Remember the other financial institutions are no more transparent then the Bear was.

Notice, you do not hear your Clinton welfare reform Democrats or Bush Republicans complaining about corporate welfare. In fact, they do not even mention it, they have a new Rove DoubleSpeak phrase moral hazard to fake the public right out of their shirts.

We need you in November to throw out the Bush/McCain - Clinton money changers. Vote your own self interest for a change.

{"commentId":1590971,"threadId":"236184","contentId":"1373339","authorDomain":"Aunk"}

1 vote

#1 - Tue Mar 18, 2008 12:33 AM EDT

{"commentId":1591700,"authorDomain":"leogodin"}

leogodin

The Federal Reserve which, is neither federal nor has any reserves,

Great and true quote.

My recommendation is get out of paper, any type of paper. Put the majority of your assets in gold. If you can afford bars get them, if not get coins. Carry what you can in your pockets, put some under your pillow and put the important portion in a safe overseas bank. Do not leave assets in American financial institutions the risk is to great.

I would certainly be wary of my investments (If I had any) but I'm not sure taking all your money out of banks is a good idea. Doesn't the FDIC insure your money up to $100,000? Also, with gold at $1000 do you expect it to go much higher? I'm no economist but I suspect it has more room to fall than grow. That being said, our economy is in huge trouble. The falling dollar causes inflation yet we keep printing more money which of course causes the dollar to fall more. This is driving up food costs and the costs of all the (once) cheap goods we buy from China. We haven't even started addressing the Social Security issue that is close to causing huge problems. Oh yeah, while we're at it, we have thousands and possibly millions of Americans who have worked hard for the promise of good pensions only to be told that their companies are no longer making good on their pension promises (how is that even legal?).

{"commentId":1591700,"threadId":"236184","contentId":"1373339","authorDomain":"leogodin"}

1 vote

#2 - Tue Mar 18, 2008 9:10 AM EDT

{"commentId":1593688,"authorDomain":"Aunk"}

Aunk (The Cultural Health Guy)

Hetep and Respect Leo, yes the banks are insured. but I would not trust putting my lifesaving in them. Some working capital yes. but be careful.

My recommendation to go to gold is not as an appreciating investment. The purpose is survival stop loss, Gold is not going from $1000 to $10 over the weekend . It is a world currency not the paper that bush and the forty thieves have been steeling.

Oh yeah, while we're at it, we have thousands and possibly millions of Americans who have worked hard for the promise of good pensions only to be told that their companies are no longer making good on their pension promises (how is that even legal?).

Don't get me started, I am due to get a number of pensions. I have my radar on.

{"commentId":1593688,"threadId":"236184","contentId":"1373339","authorDomain":"Aunk"}

1 vote

#2.1 - Tue Mar 18, 2008 4:52 PM EDT

{"commentId":1594373,"authorDomain":"leogodin"}

leogodin

good stuff as always. I ordered your book today. I can't wait to read it.

{"commentId":1594373,"threadId":"236184","contentId":"1373339","authorDomain":"leogodin"}

1 vote

#2.2 - Tue Mar 18, 2008 7:55 PM EDT

{"commentId":1594713,"authorDomain":"Aunk"}

Aunk (The Cultural Health Guy)

H&R Leo, That is great, I can't wait to hear what you think. Which book did you order?

{"commentId":1594713,"threadId":"236184","contentId":"1373339","authorDomain":"Aunk"}

1 vote

#2.3 - Tue Mar 18, 2008 10:09 PM EDT

{"commentId":1595585,"authorDomain":"leogodin"}

leogodin

I ordered Doublespeak in Black and White

{"commentId":1595585,"threadId":"236184","contentId":"1373339","authorDomain":"leogodin"}

1 vote

#2.4 - Wed Mar 19, 2008 8:11 AM EDT

{"commentId":1596811,"authorDomain":"Aunk"}

Aunk (The Cultural Health Guy)

H&R Leo, tnx that's grate, I can't wait to hear your thoughts on getting into the ZOD (Zone of optimal development)

{"commentId":1596811,"threadId":"236184","contentId":"1373339","authorDomain":"Aunk"}

1 vote

#2.5 - Wed Mar 19, 2008 1:26 PM EDT

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AUNK (THE CULTURAL HEALTH GUY)

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Rome is Burning - Bear Stearns for $2 a share

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