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Bear Stearns: is that bail-out, or "plunger protection" working the market as a whole ?
A forced marriage by the FED FED must stop the chain reaction before it happens or almost every major finanical institute would face a severe counter party risk based write down(much more uglier than sub-prime). cheap load(arranged friday) to BSC is useless too as no one would think that is enough and the run would continue and BSC would be forced to file chapter 11. So they need some big guys to boost the confidence, i.e. JPM. JPM doesn't really want it or else what would be the difference between 1.28B(that is more likely to be approved quickly by the share holders) vs 286M when they said it can make 1B/year after the completion and cleaning up the mess ? beside, it is not cash but printing more certs. A bit more dilution but worth it if they really want it so badly. BSC's management doesn't want to give in yet or else they can play hard with the 'I am going to drag everyone down if I don't get say 12/share' trick. As they have depleted all the cash anyway so even their client want to draw money, they have still to wait for the liquidation(to find out what money ... more

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