that no one wants from BSC? This is a complete joke! Why did they even open the stock friday knowing that JPM was buying it for $2.00 a share? I'll tell you why, so the big boys at Bear could dump all they could before the announcement. I would really be mad if I would have bought friday. Wall Street is crooked, has been crooked and always will be crooked and for the Federal Reserve to be involved in it makes it look really fishy.
I blame the likes of CNBC for causing panic! Lucky for us we have a great Fed Reserve and the check and balances in place are working. I see a big sharp rebound today and the worse is probably over and I PREDICT THAT THERE WILL BE A RUN TO BUY INTO THE STOCK MARKET SHORTLY AND THE SHORTS WILL LOSE BIG BUCKS! THIS WEEK I PREDICT THE MARKET WILL BE UP BIG TIME.
"Wall Street is crooked, has been crooked and always will be crooked and for the Federal Reserve to be involved in it makes it look really fishy."
Welcome to reality. Yes Wall Street has always been "crooked" to some degree or another. The level of "shenanigans" increases during bull markets and retribution and massive losses occur in bear markets. Nothing new. What is occuring now is like a replay of 1929-32 only with different actors playing the parts and slightly different storylines.
As for the Fed, it is a PRIVATE institution that operates in IT'S OWN best interests which do not necessarily coincide with the best interests of "the people". Nothing new here at all except for the fact that none of us have witnessed this in our lifetimes. Take note, these are historic times on Wall Street.
And another thing. Alan Schwartz the CEO should be in jail. He came out Wednesday and said everything was fine. Think about the people that bought around $70.00 after that. Crooked as hell. he must have been selling Wednesday and Thursday.
You can't tell me he didn't know what was going on!