The Bear Stearns demise and fall out

March 18th, 2008 4:42 am  |  by  |  Published in Banking, Debt, Economics, Federal Reserve, Free Market, Maven Commentary, Money  |  0

JP Morgan bought Bear Stearns for $2/share yesterday. It was trading around $150/share a year ago. Last Tuesday Jim Cramer came out bullish on Bear Stearns on his Mad Money CNBC show. Don Harrold of DonHarrold.net had a few choice words to say about Cramer on Sunday night.

You need to a flashplayer enabled browser to view this YouTube videoHe then followed that up with some more this evening.

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Now the Fed is set to cut interest rates yet again today by between a half and full percentage point. Are we headed for an economic armageddon? Who knows, but one thing is for sure… things aren’t looking good.

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