Monday, March 17, 2008

12:20 Update

We're about back where we started. This could be dangerous is we're in the same position near the close because the markets would be looking to sell-off then.





Posted by Hale Stewart at 3/17/2008 12:21:00 PM
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3 comments:

samsin said...

I'm amazed at how this is playing out like the post MLK "rally" we had. World markets are hit hard yet we're still hanging on. We might actually avoid a 1929 style crash (which is Bernake's goal.)

But this is starting to look like 1930-32 with a brutal grinding down of a bear market. That part may not be avoided without solving that solvency issue banks are having.

March 17, 2008 at 1:27 PM
Brett said...

Uodates: there's resistence to the buyout by BS shareholders.

Joe Lewis who just invested $1B in Bear Sterns, stands to lose 900 million and will not support the buyout. A stockholder activist who bought shares @ $32 on Friday says he believes the stockholders would get a better deal in bankruptcy court.

The drama isn't over yet.

March 17, 2008 at 1:32 PM
Brett said...

2:51 PM: The first stockholder lawsuit has just been announced on CNBC, alleging that Bear management misled stockholders.

March 17, 2008 at 1:53 PM

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