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Politics : View from the Center and Left

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To: Bearcatbob who wrote (54146)	3/16/2008 9:48:18 PM
From: Katelew	Read Replies (2) of 542688

Bob, the Bear Stearns news is unbelievable!!!! I was just looking at it Friday, trying to figure out what the book value might actually be as a sum of the discounted parts. What I remember most clearly was their relatively new office bldg. on Madison Ave. was valued at $12 per share, even after factoring in the recent declines in NY corporate real estate. They were bleeding assets as accounts were leaving, but still Barrons gave the retail brokerage business a value of, I think, $20 a share. The institutional part was valued at zero, but now it appears its value was a huge negative number!!!! This is devastating news. Every other investment banker has some level of counterparty risk to Bear, I would think.

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