2008-06-17 — cnbc.com
JPMorgan Chase’s top investment banking executives conceded yesterday that their acquisition of Bear Stearns was worth far more than the rock-bottom $10 a share price they paid
Wait a minute. Wait just a damned minute. I thought JP Morgan would only do the deal if the Fed was willing to come in and throw in some hefty guarantees. You know, like they were doing Bear Stearns, the Fed, and the whole banking system a favor. Now they are saying they could have actually afforded more?? Translation: "hey everyone (including the general public), we were just bustin' yer balls -- fooled you!!"
This is not going to go over well with pretty much anyone.
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