Monday, March 17, 2008

Bear (Stearns) Market

When things crumble, they can crumble very quickly.

J.P. Morgan is buying Bear Stearns for less than the price of its building, the Fed cut the interest rate - as though THAT will help - and the dollar dropped to records lows, oil shot to record highs, and last night in Europe and Asia, they all sold off like crazy.

As Atrios would say, "WHEEEEEEEEEEEEEEEEE!"

No comments: