Bear Stearns

[robinlandseadel at comcast.net]

>From the Huffington Post:

For all practical purposes, Bear Stearns is bankrupt. 
Despite the shotgun nature of the Bear/JP Morgan 
deal, Bear would not have agreed to a $2/share 
valuation unless the damage to their business was 
extremely severe. The Federal Reserve is scared 
sh*tless. There is no reason for them to get involved 
in this deal unless they were worried about one of 
two things (and probably both): 1) the ripple effect 
and/or 2) other banks in a similar situation. The Fed 
is looking for any tool (and making some new ones 
up) to prevent a system wide crisis. Bernanke is trying 
to prevent a financial sector meltdown.

http://mailcenter3.comcast.net/wmc/v/wm/47DE96E8000238D1000043352216538496040A0B0E0A9C0B020E0402070D019D?cmd=Show&no=12620&uid=306497&sid=c0

Sound familiar?