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JP Morgan Purchases Bear Stern
So JP Morgan has purchased Bear Stern.  Think about late last week. The Fed pushed JP Morgan to be the conduit to allow Bear Stern not to fail.  This without any down side for JP Morgan.  Now, they purchase Bear Stern for 2 dollars a share.  At the same time the Fed lowers the Discount Rate 25 basis points.
We must say the Fed is trying as hard as they can to find new ways to counter this crisis.  Will they be successful? Only time will tell.  They are certianly trying some out of the box thinking.  Hopefully, the market can help as spring approached and people decide it is time to move forward with buying a home.  That would be the biggest boost to the crisis.  It would be more importnat than anything the Fed can do.
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