Bear Stearns RIP.  $2/share.  That is robbery.  The employees own 25% of the company.  This company's shareholders should get together and vote against this deal.  They should then file bankruptcy and slowly rebuild.  In five years it will be back and a large portion of them will have their jobs.  There is something hugely corrupt going on when the CEO is saying 1 week before that the company is worth $84/share and then the board approves a deal for $2/share.

Could they be buying time knowing that the shareholders will vote against this?  If this is not a trick, JPMorgan must have promised the executives something pretty nice to steal the company at this level.  There should be a huge investigation into this, and I am sure there will be.

Is Bear Stearns worth $2/share?  Probably not even.  Probably negative.  That is not the point.  Chapter 11 is there for a a reason.  Rebuild the dang company and give the employees/shareholders a chance.

We are watching this one closely, but the next one to fall will be............

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