Maria Gudelis on Bear Stearns…wish I owned JP Morgan
Whew, what a sweet ride...buying Bear Sterns for $236 Million, Feds buying up some of the defaulted notes ($200 Billion market-wide) and here’s the KICKER…
Did you know..just the building alone that Bear Sterns owns (Bear Sterns headquarters) is worth and can be sold for $1 Billion!
Turn $236.2 Million into $1 Billion...hmmm…and the rich keep getting richer…further baked (oops I mean backed) by the Federal government. “The Fed also essentially made the takeover risk-free by saying it would guarantee up to $30 billion of the troubled mortgage and other assets that got the nation’s fifth-largest investment bank into trouble. “ You can read more at the Yahoo News Article on this Historic Acquisition
Enjoy, by Maria Gudelis
Filed under: U.S. Real Estate Status
