Monday, March 17, 2008
Bear Stearns - Holy Sheeit.
Over the weekend I caught word that Bear Stearns was up for a fire sale... $2 a share. That's insane considering that the value of the shares were priced around the high 80's at the beginning of this year. The feds are also offering discount loan rates to investment banks that it usually reserves for "Traditional" bank institutions. We're headed for a recession, there is just no denying that. The question should be: "How long will we be in this recession?" The Japanese have been in this non-growth funk for the longest time. Is this our final curtain call? Jesus.