Some say you can't fight the fed, JP Morgan and the creditors of Bear Stearns, with many of the creditors seeking to acquire larger shares of BSC stock to obtain a controlling voting block so as to approve the JPM 'buyout.' In fact, Ritholz, who makes a lot of sense often, subscribes to this camp. He claims that with 75 billion in bonds depending on JP Morgan to rescue BSC, it's a near certainty that the deal will be consummated. I don't think it will be quite that easy. I certainly think anyone thinking it will be that easy underestimates the determination of Lewis, BSC employees (who control roughly 30% of BSC's float), and a variety of other funds that hold large chunks of BSC shares. If you play your cards right, and JP Morgan is thwarted in its takeover attempt, by vote or litigation, or EVEN if JP Morgan (or another firm) succeeds in taking over BSC, you can rest assured BSC shares will trade at a much, much higher price before all is said and done. This battle that we will all see unfold is going to be one for the history books. Lawsuits have already been filed, shares (and votes) are being sought, and Lewis has already filed statements basically telling JP Morgan he is ready, willing and able to work with BSC employees and other shareholders seeking to defeat any takeover attempt of BSC at any price even remotely close to the $2 as referenced and apparently blessed by the Vatican....err...I mean the Federal Reserve. And if you build a position and are right, this will be one of those 'once in a decade' opportunities to make a fortune.