It's Official: JP Morgan Capitulates, Raises Bear Offer to $10 a Share
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2008-03-24 — nakedcapitalism.com
``The new agreement also calls for the Federal Reserve — which helped broker the emergency deal to save Bear Stearns from failure — to provide a $30 billion term loan with portfolio assets put up as collateral. Those assets will be held by a newly created company managed by BlackRock Inc.'' -- This is the "oops, the first deal pissed off too many billionaires and was overtly illegal" do-over.
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