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Politics : Welcome to Slider's Dugout
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To: Bill on the Hill who wrote (8531)3/18/2008 11:16:48 AM
From: RonMerks  Read Replies (1) of 50725
 
Re-What if Joe Lewis is able to block the takeover of BSC?
What if the employees are able to block it?

From what I read- I think its a matter of who's balance sheet can handle the purchase. It sounded like there were many potential buyers in that room with the Fed- but only one with the balance sheet to swing the deal.

I'm thinking it's a done deal and thinking of buying some puts on it- because it's like KMart when it went bankrupt- people kept believing, but in the end- they ended up with zilch. They were right in the end- there was value way beyond what Eddie Lampert bought it for- but, it was Eddie Lampert not them, that got the value. No different this time with JP Morgan.

I see lots of lawsuits, but the sign will soon read- 'House of Morgan'- not Bear Stearns.

I feel sorry for their employees- this is a tragedy and JP Morgan Chase will probably reap a huge windfall, but that's how that game works.

Did you see Jimmy Cayne's new $25 Million Dollar Apartment on CNBC this morning? Slider hit the nail on the head- this guy fiddled while his company went up in flames. He deserves a jail cell next to Kozlowski. I hope the hell that JPM doesn't give these exec's big bye-bye bonuses and retention bonuses etc.

Ron
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