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(BBC)   Government to JP Morgan in 2008: Hey, could you um, buy Bear Stearns TODAY and skip all that diligence stuff cause otherwise MELTDOWN, kthanks. Government to JP Morgan 2012: Ha ha, suckers   ( bbc.co.uk) divider line
    More: Stupid, JPMorgan Chase & Co., meltdown, Bear Stearns, collective investment scheme, Hey, bad debts, mortgage-backed securities  
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3475 clicks; posted to Business » on 02 Oct 2012 at 12:38 PM (5 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2012-10-02 03:39:40 PM  
2 votes:

WxGuy1: netringer: Wait, wait, wait!

Jim Cramer said Bears Stearns is fine!

BREAKING NEWS: Jim Cramer was wrong.

/ Obvious
// If there's anything I've learned over the past 5 years of managing my own stock, it's that you're lucky to beat the market, and you probably will end up behind the big guys. Sure, some people do well, but some people also get a 21 blackjack by chance too. I'm relatively young, and I try to follow all of the prudent investment strategies, but that hasn't left me with much. As Bill Gross said, the years of significant stock market appreciation are over.
/// Yes, a little bitter. Where the fark are we supposed to grow our money if savings accounts are earning

The best way to make a small fortune in the stock market is to start with a large fortune.
2012-10-02 02:03:49 PM  
2 votes:
"The securities had been widely purchased because rating agencies had mistakenly deliberately given them the highest possible credit rating."

There, fixed it for them.
2012-10-03 09:45:07 AM  
1 vote:

flucto: *puts on mind reading hat* - I predict this thread will be filled with knowledgeable comments.

Will be filled with no comments. The liberal trolls on Fark don't talk about Obama's mistakes.
2012-10-03 08:18:57 AM  
1 vote:

WxGuy1: /// Yes, a little bitter. Where the fark are we supposed to grow our money if savings accounts are earning

Start a business and actually create something of value? I know, crazy, right?
2012-10-02 03:18:04 PM  
1 vote:
You mean the Bear Stearns that JP Morgan bought for pennies on the dollar specifically because of the risk associated with their mortgage securities? Cry me a river that they don't get billions in value for free.
2012-10-02 01:48:47 PM  
1 vote:
NY AG's office != US Treasury.
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