Re: Bear Stearns bank...kaput. taken over by rival bank JPMorgan

On Mar 17, 11:34 pm, baldeagle <botakea...@[EMAIL PROTECTED]
> wrote:
> Bear Stearns bank is one of the two largest global investment banks,
> securities trading and brokerage firms in the world. The other is
> JPMorgan Chase.
>
> Last year Bear Stearn share was  traded at $159 a share...last week it
> was $70 a share, Last Friday it was only $30. It is now insolvent with
> a subprime losses of over $3.2 billions.   JPMorgan Chase is to buy
> over Bear Stearns, at $2 a share.
>
> What happened !
>
> Two words...Subprime and credit crunch.
>
> Will it be the last or first of many to come ?
>
> Looking at the amount of subprime losses suffered by leading banks in
> the USA and Europe...(see table below), more banks will have to fold
> up soon.
>
> MAIN SUB-PRIME LOSSES SO FAR
> Citigroup: $18bn
> Merrill Lynch: $14.1bn
> UBS: $13.5bn
> Morgan Stanley $9.4bn
> HSBC: $3.4bn
> Bear Stearns: $3.2bn
> Deutsche Bank: $3.2bn
> Bank of America: $3bn
> Barclays: $2.6bn
> Royal Bank of Scotland: $2.6bn
> Freddie Mac: $2bn
> JP Morgan Chase: $3.2bn
> Credit Suisse: $1bn
> Wachovia: $1.1bn
> IKB: $2.6bn
>
> Source: Company re****t  by
BBChttp://news.bbc.co.uk/2/hi/business/7299938.stm
>
> Time to get rid of your bank shares before it become worthless


About 15 to 20 years ago, when the Sinag****e property was in the
downturn....we still see Far East putting this adv 'We want to buy
landed property' pls contact 'Mr Chong at tel 2352411........Ppl were
asking why Far East still buying up properties  when properties were
in the doldrum?.........this is called 'wayang wayang ' lar

Cos, Far East is one of the largest property owners in Singa****e and
they cannot allowed property price to drop leh..........got to buy up
for show show only and at the  same time to 'prop-up' property price
wat.

In this JP Morgan Chase purchase of Bear Stearn..........oso can be
view as for 'show show'.........I bet you JP Morgan Chase, they
themselves oso facing internal cash flow problem.........so, got to
show to the rest of the banking communities that they are still as
viable