Pics from the front door at Bear Stearns this morning

[swag]

via Calculated Risk.

[Rex]

1. What does it mean?

[bicentennial_baby]

3. JP Morgan bought them out for $2 a share...

A 90% drop from the stocks value a week ago.

[Rex]

14. Holy e crap.

Just...wow...

[LSparkle]

20. I was thinking it might also be a play on "queer [NOT A SLAM!] as a $2 bill"

[JackRiddler]

21. But isn't that expression "queer as a $3 bill"?

$2 bills exist, after all.

[LSparkle]

22. I always thought it was $2 and then when they started printing them

I wondered why ...

Considering the $2 stock price, I'm sure that's what was intended anyway ...

[Winterblues]

26. When do you believe they started printing $2 dollar bills?

I remember in the fifties when they were quite popular and remember old Hank williams songs about them from the thirties. Hey hey good looking, what's ya got cooking Hows about cooking something up with me. I got a hot rod ford and a two dollar bill, and I know a spot right over the hill, where the drinks are cheap and the dancing is free, so if you wanta have fun come along with me.....

[LibertyLover]

27. They printed $2 dollar bills again in 1976

with Jefferson on them.

[Angela Shelley]

5. Insider news ... The stock went down to $2

[swag]

6. Last week, Bear was trading up around $50/share. Down to $30 on Friday.

Yesterday, it was swallowed whole for $2/share.

[catnhatnh]

7. It represents the price per share.....

that JP Morgan bought them for....They closed around $30 a share friday and were close to $150 a share a year ago....

[notadmblnd]

11. How can JP Morgan chase do this. It was my impression that they were tilting on the brink too?

[htuttle]

12. Apparently they still have checks left in their check book...

...so they CAN'T be broke.

[catnhatnh]

16. Get this!!!!!

Their funding to buy BS is coming from the FED....But don't worry-any sane person is going to watch a lot of BS buying in the coming weeks...It's essentially like we were giving private citizens about to default on their mortgage money to bail them out, but only if they take a second unserviceable mortgage on another house...

[crimsonblue]

17. they have large debt, but they have found guarantors for their debt..

large portions of American financial companies have been bought by foreign countries, especially China. China can start a worldwide depression if they feel like it, because their banks hold over $600 bil in US debt.. Oh, and the reduced interest rates (which will increase inflation and increase foreign money flowing in) will help make sure that China owns the US. Thanks Dubya... I think we can all agree that that prosperity and peace thing was a bunch of bullshitl. Thanks for taking us to war and fucking over my generation..

[dysfunctional press]

29. that's their taiwan money.

when they decide to do to taiwan what they've done to tibet, we won't dare lift a finger to stop them.

[rucky]

2. How much are golden parachutes going for these days? n/t

[Kittycat]

9. The CEO just bought a $25M & 2.4M Apartment at the Plaze this past year.

[lonestarnot]

10. Is the fucker homeless yet?

[Fresh_Start]

4. from 159 to 2 per share in less than 12 months

helleva job by the CEO and Board

[Supersedeas]

25. and who was advising people to buy?

[MNDemNY]

8. Chase just announced the firring of half the Bear-Stearns staff.

[Nederland]

13. That wouldn't bother me...

...if I thought it was the "top half".

[MNDemNY]

15. Not likely.

[cascadiance]

18. We have a Bear Stearns office in our new office building...

... that we just moved to at the end of last year. Also, rumor is that they are advising Microsoft in their efforts to buy out Yahoo (my company). Hmm.... This thread gives me some ideas! :)

[bicentennial_baby]

19. Yes, Schwartz is working with Microsoft

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=3022981&mesg_id=3022981

[cascadiance]

23. Intriguing... Overture was also located in the San Diego area too...

I wonder if the local office here is fueling this too.

[Ian David]

24. Offer the BearStearns employees gifts of paperclips and rubberbands.

When I worked their, company policy was that they refused to purchase those things, and instead re-used and re-distributed them. Throwing away rubbbands and paperclips was forbidden.

[lpbk2713]

28. Or maybe ...

TITANIC