Monday, March 17, 2008

Everything Must Go at Bear Stearns!!!! The Fire Sale Begins

FIRE SALE AT BEAR STEARNS!!!


Shares of Bear Stearns were set to plummet on Monday after news broke that JPMorgan Chase (JPM: 36.54, -1.57, -4.11%) has agreed to purchase the beleaguered Wall Street icon Bear Stearns (BSC: 30.00, -27.00, -47.36%) for $236 million.


That price values Bear’s shares at $2.


That is a massive discount to Bear’s closing price of $30 a share Friday, and brings a quick and painful end to the 85-year-old Wall Street investment bank.


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