JPMorgan to Buy Bear for $2 a Share
Well, now we know the absolute depths of the idiocy of mortgage-backed investments like ARMs. This is a company whose stock a year ago was worth $160. Hell, yesterday it was worth $30. This was a multi BILLION dollar company that is now worth a couple hundred million.
I swear to God, I thought we got this out of our systems after the dot com crash. But once again, powerful businessmen, influential businessmen, supposedly SMART businessmen have dealt the economy a hefty kick to the groin due to their shameless pursuit of short-turn profits over sustainable growth.
It makes me just fucking sick.
Well, now we know the absolute depths of the idiocy of mortgage-backed investments like ARMs. This is a company whose stock a year ago was worth $160. Hell, yesterday it was worth $30. This was a multi BILLION dollar company that is now worth a couple hundred million.
I swear to God, I thought we got this out of our systems after the dot com crash. But once again, powerful businessmen, influential businessmen, supposedly SMART businessmen have dealt the economy a hefty kick to the groin due to their shameless pursuit of short-turn profits over sustainable growth.
It makes me just fucking sick.