JPMorgan will give investors 0.05473 shares of its common stock for every share of Bear Stearns they own. Including shares in an employee-incentive plan, the purchase price may reach $270 million. JPMorgan, whose shares closed at $36.54 in New York trading on March 14, will get funding for the transaction from the Fed, including support for as much as $30 billion of Bear Stearns's ``less-liquid assets.'' Bear Stearns plunged 87 percent to $3.97 in Frankfurt trading today.
Seeing this as well as this morning emergency cut in the Fed's fund rate makes you wonder what we don't know. The even worse part for us is the 3 leading ladies in the Presidential beauty contest don't strike me in any way as understanding deeper economic theory.
If I were Hillary I would be talking fast and furious about the 1990's and the good economic times of balanced budgets and good economic climate including low gas prices. If she could have the public think that her being there at the time would mean she could recreate those conditions, she could have a winner at least with the super delegates who will pick the party nominee and even win over the electorate in the general. But is she smart enough to do that?
Hmmm? I doubt it! LOL!