In this episode Jared Ewy stops by to discuss the Bear Stearns meltdown and global repercussions. Also a solo thinkback from me at the end. Crazy other news, Dalai Lama may resign, 2nd amendment of US constitution may be amended, global markets all on the rise.
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===== JARED EWY ON BEAR STEARNS
Full Article from CNN
On friday, bear stearns started off week at 70/share. owned 15 perc of carlisle capital who was in trouble. BS ceo saiys no liquidity rumoves. thu, closed at 57/share. JP Morgan to buy BS at 2/share.
In a shocking deal reached on Sunday to save Bear Stearns, JPMorgan Chase agreed to pay a mere $2 a share to buy all of Bear — less than one-tenth the firm’s market price on Friday.
As part of the watershed deal, JPMorgan and the Federal Reserve will guarantee the huge trading obligations of the troubled firm, which was driven to the brink of bankruptcy by what amounted to a run on the bank.
===== SIGNS SOMEBODY'S LYING TO YOU
jaw scratching indicates stress / lying
arm cross indicates rejection / uncertainty-apprehension
upward inflection indicates vocal incertainty
sentence fade (run out of breath at sentence end) indicates uncertainty
head cradle indicates arrogance, self centeredness
===== NATIONAL INSECURITY
cutbacks at dept of national security cut down security at fed facilities
dead body found rotting after 3 months
surveillance trailer stolen from FBI building
private guard firm watched it all and let it happen
1 guard per 10/11 bldgs, in multiple states
===== INDIAN OUTSOURCING
Bill gates wants Gov to increase number of H1B visas for foreign workers
20% of visas are found in india's tech sector.
indians work for very cheap.
Gov says find US candidates first. problem with that?
===== FROM BEARSTEARNS.COM
BEAR STEARNS FIRST QUARTER EARNINGS ANNOUNCEMENT SCHEDULED FOR MARCH 17, 2008 WILL NOT OCCUR
NEW YORK – New York – March 16, 2008 – In light of entering into an agreement to merge with JPMorgan Chase, The Bear Stearns Companies Inc. (NYSE: BSC) will not be announcing its first quarter 2008 financial results on Monday, March 17, 2008, as previously scheduled.
Media Contact:
Elizabeth Ventura (212) 272-9251
Russell Sherman (212) 272-5219
Bear Stearns
Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) is a leading financial services firm serving governments, corporations, institutions and individuals worldwide. The Company's core business lines include institutional equities, fixed income, investment banking, global clearing services, asset management, and private client services. Headquartered in New York City, the Company has approximately 14,000 employees worldwide. For additional information about Bear Stearns, please visit the firm's website at www.bearstearns.com.