Common Sense for Drug Policy

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Re: Are we living in apocalyptic times?

bizar4u Premier Member Registered on Dec-01-2003 More User Info Message #173580 posted by bizar4u (Info) March 24, 2008 16:28:43 ET In Reply to: Re: Are we living in apocalyptic times? posted by bum (Info) March 23, 2008 15:52:20 ET Hi -- Sorry for being so cryptic. IB stands for "investment bank" and what was historic was the bailout of Bear Stearns last weekend, by JP Morgan Chase but guaranteed by the Federal Government. Bear Stearns was almost forced into bankruptcy because no one wanted to buy any of their assets at any price that they could afford to sell at. The Fed was worried that Bear Stearns' bankruptcy would start a domino effect of other banks not being able to meet their obligations, so they were extremely interested in getting a seller -- and there weren't any to be found. This is for a company that was supposedly worth many billions of dollars two weeks ago. Things are looking a bit rosier today, but it's still incredibly volatile ... Hope that helps, Bum

Chronological List of All Messages in Thread  173474    3/21/08    Are we living in apocalyptic times? (Thread)    bizar4u    173476    3/21/08    Re: Are we living in apocalyptic times?    Dabullz    173505    3/22/08    Re: Are we living in apocalyptic times?    simafrench    173507    3/22/08    Re: Are we living in apocalyptic times?    bum    173511    3/22/08    Re: Are we living in apocalyptic times?    bum    173534    3/23/08    Re: Are we living in apocalyptic times?    bizar4u    173538    3/23/08    Re: Are we living in apocalyptic times?    bum    173580    3/24/08    Re: Are we living in apocalyptic times?    bizar4u

 

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