When is a boiler room not a boiler room??

...when it's a FTSE 100 or Dow Jones company!

Are these Central Banks out of their mind?? Bear Stearns (are you Enron in disguise) pays out hundreds of millions of dollars in bonuses, as reward for 3.2bn dollars in subprime losses! Six weeks later, the bank is essentially bankrupt.

But wait, don't allow it to go into bankruptcy, calling in the bonuses, throw hundreds of billions of tax payers money in there to steady the ship. (see also Northern Rock for similar Laurel & Hardy-esque banking adventures).

The only real losers in this debacle is the tax payer and investor. Deceived again.

SAINT said:

The only real losers in this debacle is the tax payer and investor. Deceived again.

Click to expand...

Actually, as I understand it, the US taxpayers could make money on the deal. Well, at least the Fed could. Don't ask me exactly how.

Regardless, the investors are definitely the big losers and JP Morgan probably a massive winner.

Yeah, I think the Fed will make money off it as $2 is quite a knockdown price. They
could've put me down for a few shares

The investors I felt sorry for were Bear Stearns original shareholders. The CFO says
on 13 March that they have no liquidity problems... 24 hrs later, they are effectively bankrupt. I just felt that it was misleading as much as a boiler room would.