JPMorgan to Buy Bear for $2 a Share (Yahoo/AP)
(This is breaking news, the linked stories will be updated by the time you look at them, most likely.)
So a week ago, Bear Stearns was around 70. Thursday, it closed at 57. Friday it closed at 30. Now it's worth 2.
So can I stop listening to people insulting my industry because I'm in the "dot-com" business and we were all stupid and made business decisions that smart people like bankers would never make? Thank you.
This is a faster decline than almost any of the dot-coms I can ever remember.
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