Old Ace Green must be mad as $#$%. I remember what he said in his book about the type of people he liked to hire at Bear -- "PSM" he called them -- Poor Smart and in need of Money....
JP MORGAN BUYING BEAR STEARNS
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JP Morgan just bought Bear Sterns at $2 a share. This is crazy. But like Diorex said now is the time to take advantage of this news and make some money. People for the next couple of days are going to be worried about their 401K and other stock related items. They are going to look to see how they can protect themselves. News like this is the type of stock news that freaks out the general public. They have no ideal what a basis point is but they have heard of Bear Sterns and to see it devalued like that is really going to freak people out.
Interestingly, I read about Mayan Calendar. They predict that December 21, 2012 is the end of the age. Or maybe the end of USA? I don't know.
Dow Jones, Nasdaq, S&P 500, stock market data - CNNMoney.com
Lots of little arrows pointing down. Not huge drops (ie not quite the end of the world), but not good news for sure.
Lots of little arrows pointing down. Not huge drops (ie not quite the end of the world), but not good news for sure.
It is going to get much, much worse over the next 2 years. E.g.serious mortgage fraud being investigated in the uk at the moment which may turn out to be worse than the US (although won't have the impact on other country's markets). But as has been pointed out already, this just means a shift in what people will be buying. Hint: times like these tend to be when people start their own businesses, due to redundancies or new opportunities.
the news hasn't been as bad as expected. Investors have agreed with the fed intervention. The problem with that is that the intervention hides the problems not solve them.
weird stuff..... dont watch the man behind the curtain enjoy the puppet show and eat your popcorn and shut the fuck up!
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