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Politics : Welcome to Slider's Dugout
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From: SliderOnTheBlack3/17/2008 2:16:59 PM
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Bear Stearns: Paybacks are a bitch...

"Vengeance is mine sayeth the Lord & Wall Street Bankers."

Nearly ten years ago, it was Bear Stearns that refused to
participate with other Wall Street investment banks in the
bailout of Longterm Capital Management (LTCM).

This weekend, as the tables turned... Bear Stearns found out
those banks (and the Fed) have long memories.

And once again the question arose -- where was Jimmy Cayne?

......................................."Up in Smoke"

Nero fiddled while Rome burned -- and Jimmy Cayne played
bridge (in a tournament in Detroit) while Bear crashed and
burned.

... I guess that beats smoking pot on the 14th green,
but not by much.

$2 bucks a share...

You can't buy a cup of coffee in New York City for two bucks,
but you could of bought Bear Stearns for that - and this
weekend, JPM's Jaime Dimond did just that.

This wasn't a bailout of Bear Stearns - this was payback,
and don't let anyone tell you different.

...and that's why JPM is up +9% today.

Mo later,

S.O.T.B.
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