Bear Stearns

[ctenidae]

I want my $2.

Ouch.

 

[SKIQUATTRO]

and to think at the end of 06 it was trading at well over $100

 

[gladerider]

pictures don't look good. looks like Lehman is under the scope now.

 

[andyzee]

Friend works for Bear Stearn, he resigned this past Friday. Talk about perfect timing.

 

[ctenidae]

In January we asked a distressed debt guy we work with (founding member of Harvard Management Company) who was going to fail. Other people there hemmed and hawed, he came straight out and said "I don't know what Bear Stearns is going to do." Guess he was right.

Agree Lehman's next in line. Only grace for them is new Fed program that comes on line on the 28th. Fed has signalled they're willing to bail banks out (they sort of have to, really). There's more pain to come, though, no doubt.

 

[andyzee]

Lucky me, started a job for a major bank in Sept. :-?

 

[ctenidae]

 

[riverc0il]

Think any one will learn anything from what is happening right now? Short term memory, short term stock option motivation, and financial incentives are way too powerful a lure, IMO. So here's to starting the cycle all over again once this thing finally hits bottom (whenever that may happen, no time soon I would guess).

:beer:

 

[ctenidae]

Think any one will learn anything from what is happening right now? Short term memory, short term stock option motivation, and financial incentives are way too powerful a lure, IMO. So here's to starting the cycle all over again once this thing finally hits bottom (whenever that may happen, no time soon I would guess).

:beer:

There will always be bubbles. Fortunately, stupid people do tend to pay for things without realizing it, so there's that. We do have the tech bubble to thank for the Internet, anyway.

 

[deadheadskier]

To be honest, I'm somewhat happy this recession is happening as crazy as that sounds. It's bad for my business and killing my sales big time as people are guarding the wallets. The reality is that a huge majority of 'wealth' generated in this nation over the past five years was 'funny money'. This correction is completely necessary.

 

[GrilledSteezeSandwich]

Diesal prices are over 4 bucks a gallon and almost everything is shipped on trucks..so prices are going to keep rising..buying power is on the decline...Will this impact the ski industry??? People cut leisure/discretionary spending first in hard times..the trickle down effect could suck...I personally won't invest in the stock market..it's too risky..Bank CDs offer a low interest rate but they're safe..

 

[riverc0il]

To be honest, I'm somewhat happy this recession is happening as crazy as that sounds. It's bad for my business and killing my sales big time as people are guarding the wallets. The reality is that a huge majority of 'wealth' generated in this nation over the past five years was 'funny money'. This correction is completely necessary.

I agree strongly... to a point. But unlike the people at the bottom of the barrel that got sold stuff they couldn't afford (hey, buyer beware and all, but still....) the guys at the top are going to get off pretty easily. Bear Stearns needed this bail out or else the entire economy would have crashed and burned. And this will continue with bail outs. People should feel pain for bad decisions, but the problem becomes that people who ethically should not feel pain will and people who ethically should feel pain are already loaded, aren't really loosing a ton, and will get corporate bail outs to keep the economy from completely diving.