14k Bear Stearns Employees with Company Stock in their Retirement suffered double hit here...

[Blackhatjack]

They woke up and learned their accounts are worth about 90% less than they were last week, and most will lose their jobs in the weeks to come.

Shades of 'Enron'??

[AngryAmish]

1. These are employees at an investment bank

Doncha think they diversified? If they didn't, ain't that kinda dumb?

[Blackhatjack]

4. Many employees are not sophisticated market traders ... and they were lied to as well...

Companies have a way of encouraging employees to invest in their company stock.

Hopefully many did diversify, but it is likely most had substantial sums invested in Bear Stearns stock.

[high density]

6. I would hope so

It doesn't take a financial genius to figure out that if your income is 100% linked to a company you probably shouldn't put more eggs into that same basket. This is especially true after the BS that was Enron.

[Winterblues]

10. What does that have to do with shares of that company

Yes they are diversified but I am sure that they have a sizable amount of BS Stock as well. They just lost 90% of that stock which was probably a sizable portion of their portfolio. Next they will be losing their jobs which isn't even in their portfolio.. They are going to suffer "Big Time" as Cheney would put it..

[bicentennial_baby]

12. They're already losing the jobs, CNBC reports

that employees started removing their personal effects from the bldg yesterday, and continue to do so today.

[ThomWV]

2. The stock went from $174 six months ago to $1.84 this morning.

[aquart]

3. Shades of shutting up and looking the other way for decades.

Normally, I would be full of sympathy. But Bear Stearns was a hateful bunch of criminals masquerading as the most sincere, trustworthy uncle in the family. This all comes over a decade too late. God knows what they've done in the interim.

[Democrats_win]

5. Shows that we need 1 million SEC employees to watch the Wall Street Fraud machine.

This Bear Stearns deal is one of the biggest thefts in American history. Yet no one will investigate.

No Wall Street traitor or banker should even go to the bathroom without an SEC officer present! (That's the same treatment people who work for businesses in America receive every day so why shouldn't the real crooks in America receive that treatment too?)

[opihimoimoi]

7. American Taxpayers wuz Robbed...we did not vote on this...we just GAVE away $30 Bil? WTF?

[madrchsod]

8. i have a a few times in my life

should i feel sorry for people who worked there? i supposed as a christian i should but did they shed a tear when millions of people like me woke up and found their jobs gone to a cheap labor country where there are no rules and no accountability but to the maximum profits?
it`s tough but they will survive just like the rest of us

[DrDan]

9. repeat of Lucent a decade ago

I had friends with $600K 401Ks who saw it drop to 50K or so

[cloudbase]

11. Y'know, one of these days

somebody is going to get really pissed off, and

[Blackhatjack]

13. CNBC just explained some Bear Stearns workers worth $15mil last week are worth $500k today

... and remarks how painful that is.