It seems to be happening as fast as I thought I could predict it. Please note the sale price. That will not be encouraging to those holding stock in the other investment banks. This is just more consolidation of wealth and control by the extremely wealthy ruling families. And will this save the system and the dollar as that was what this was supposedly about. Hardly, BearStearns is just one of the terminal cases at the top of the muck pile. My point being this moves it off one set of books at a steep discount and aswell loss to the seller (B-S) but it doesn't offer any confidence to those other banks that what they are also holding as collateral on their books has any book (market) value. I think it will just make the foreign investors run home even faster. http://dealbook.blogs.nytimes.com/category/bear-stearns-crisis/
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment