More on Bear Stearns

According to CNN, it appears that the deal bailing out Bear Stearns is costing JP Morgan a lot more than the $236.2 million that the $2 per share announcement would lead you to believe.   According to CNN: The Fed also approved the financing arrangement announced Sunday in which JPMorgan Chase & Co. will acquire rival Bear […]

What liquidity crunch?

Just two days ago on Wednesday, March 12th, Bear Stearns CEO Alan Schwartz said (I’m quoting from a Reuters story) “We don’t see any pressure on our liquidity, let alone a liquidity crisis.” He also said “We have $17 billion or so excess cash on the balance sheet.” Today he said “Our liquidity position in the […]