Bear Stearns Cos looks pretty bad on these charts - Bloomberg's (new-to-me) 1-yr ECCG function tell it all, based on trading up until last Friday's close, and (obviously) before the Fed balance sheet backed $2 "rescue" of Bear Stearns by JP Morgan.
Oh - waitaminute... sorry... I meant to post this one for Bear Stearns, not that one for Lehman Bros. Damn, those charts look similar! (Eek!)
Incidentally: A very smart move in multiple ways by JPM in my view, rather than a mere "shotgun marriage" solemnized by Rev Bernanke... next time a big(ger) bank starts toppling over, Mr Dimon can put his hand up and say to the Fed that he's done his bit, and beefed up understrength areas in his bank in the process. On the (very) cheap, and basically with the crap in the BSC books underwritten by the Fed. Smart. JPM's the financial name to pick up some time in the next 6 months, not C, BAC, WFC, WB, MER, MS, GS etc.
Stumble It!
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