Bank Talks: Fear of Nationalization?
After a hellish week in the stock market, a pop in the coming week is expected and inevitable. Even though BAC and C went down a lot this week, I believe that they will come back up. As soon as rumours of nationalization get cleared, they will no doubt turn around. I may be wrong, [...]
Tagged as: bank of america, banks, bear market, bear stearns, citigroup, countrywide financial, hope, JP Morgan, merrill lynch, nationalization, overreaction, stimulus plan, washington mutual, wells fargoTotal Chaos in the Stock Market
There were lots of speculation as what will happen to Lehman Brothers on Monday. Not surprisingly, they just filed for Chapter 11 Bankruptcy Protection around 12:30 am on Monday. Meanwhile, Bank of America is buying Merrill Lynch for $44 billion at $29 a share.
I don’t understand why in the world would Bank of America would [...]
JPMorgan May Increase Bear Stearns Bid from $2 to $10 a Share
Why would JPMorgan pay more when it can buy Bear Stearns for its original bid of $2 a share? This is very strange and beyond my understanding as to why JPMorgan is bidding against ”itself” So far, none of the other big banks are interested in buying BSC. I believe there is some shady business going on here.
Tagged as: bailing, bear stearns, jpmorgan, pump and dumpJPMorgan to buy Bear Stearns for $2 a share
On Sunday, JPMorgan Chase said that it will acquire rival Bear Stearns for a bargain-basement $236.2 million, or $2 a share. It is unbelievable that the once 5th largest investment banks in the world went into total collapse in just a few days.
Furthermore, the stock price went from around $90 in February to a low [...]