Wall Street’s bears are stern
March 17th, 2008 at 06:55am Pat Cunningham
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Sorry for the lame pun in that headline, but as an Irishman, I refuse to address the financial-market problems on this St. Patrick’s Day with some line about the burnin’ of the green.
Anyway, the SITUATION is such at this pre-dawn hour that investment bank Bear Stearns has lost 99 percent of its stock market value in the past 14 months and is being sold for a pittance.
UPDATE: Fed bailout of Bear Stearns “crosses a line,” it says HERE.
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5 Comments Add your own
1. Tom McMahon | March 17th, 2008 at 12:06 pm
Just last week Jim Cramer gave Bear Stearns a clean bill of health (video). An absolute classic.
2. Pat Cunningham | March 17th, 2008 at 12:55 pm
That’s a good one, Tom. Thanks.
3. Tom McMahon | March 17th, 2008 at 10:10 pm
Although it has nothing to do with Bear Stearns, I always thought this true story would be right up your alley: The Day I Met A Soviet Spy In My Hometown Of Belvidere, Illinois. As far as I know, this story has never been covered in the Rockford media.
4. Pat Cunningham | March 18th, 2008 at 12:36 pm
Tom: I enjoyed the Belvidere story. Gee, I always thought I was the only commie spy in this area.
5. Henry | March 22nd, 2008 at 8:58 pm
I heard the Yankees paid more for Alex Rodriguez than Chase is paying for Bear Stearns.
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