http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=a2uagR6Ze3Jg Consider your words when you spread unsubstantiated rumors about banks and brokers. Unless you are an anarchist.
Grow up child what is so funny about a firm going to the wall? I spent 10 years at GNI who were bought by Man and still know a lot of people there. After reading a lot of your posts recently it is obvious you are a little boy yet to do his first real trade. Fuck off
There is obviously a person behind "Bogan 7", but why identify yourself with the convict descended scum of Australia? Anyone who identifies with this filth must be an idiot! You are embarrasing all us other Australians who do not have convict genes.
But if it were simply rumors that caused Bear's collapse, why would it's management accept a $2 bid from JPM, especially after the Fed said it'd come to their rescue? I mean, if the company *really* had solid assets over liabilities, then I would've said F$$C JPM and their $2, let's declare bankruptcy and call the Fed's "bluff"! It all points to a company whose net assets are less than liabilities and therefore worth $2.00 BUT if that's not the case, then something else was going on to make management give the company away.
It's a lot more complicated than that. And no one is saying they didn't f^&# up. But clearly, the end was precipitated by external forces to some extent.