Monday, March 17, 2008
JP Morgan are sending champagne to the following:
let me get this right.
the federal government is using taxpayers' money to help a wall st. bank buy another wall st. bank at a bargain basement price, when it has done nothing to regulate those very same institutions that are responsible for the credit crisis and risky mortgages being sold to the general public that got banks like bear stearns into trouble in the first place.
ten cases of cristal each. tax deductible as expenses, of course.
i presume the bear stearns ceo is going to give back the $30 million (excluding his $14.8 million bonus) he earned in 2006 from the selling of subprime mortgages to all the people that have had their homes foreclosed directly linked to his bank's activity.