More gallows humor from the usual crowd — this time, with a motherlode of Bear Stearn’s mementos on eBay.
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click for more mementos
It reminds me of the old expression: If you want a friend on Wall Street, get a dog . . .
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Sources:
Bear Stearns mementoes fetch more than shares
Steven Bertoni
Reuters March 20th, 2008
http://blogs.reuters.com/reuters-dealzone/2008/03/20/bear-stearns-mementoes-fetch-more-than-shares/
And if you want sympathy, call your mom!
I remember how upset Bear Stearns employees were the day Enron went bust and people lost everything, and WorldCom, and…
Don’t think of it as “people.” It’s a firm that had one coming to it since the days of LTCM.
Wall Street peeps, you’re part of the REAL economy now.
none of that compares to the $2 bill taped to the front door on Monday morning….
the rumor floating around now is that Cayne was at a bridge tournament over the weekend and had to be “engaged” about the crumbling of his company…..well I guess that is the attitude of someone playing with OPM….you see where his priorities were at….his money.
Ciao
MS
On the back of the shirt…an optional saying…”Thanks Cramer!”
One one hand, I feel sorry for the innocents who were naive enough to invest in company stock instead of a mutual fund. On the other hand, the ones most responsible for aiding in the crap of recent months took it hard in the nuts, as I wished they would. Justice prevailed.
Now to find and crucify the smart asses who started the crash rumors. I bet you could use insider trading laws to make a few need to hire lawyers. This will be a spectator sport if the government gets a little creative and vengeful for making the Fed work over the weekend. Anyone got any rumors on who started the rumors, how they spread them, and what they got out of it?
Kind of a two-fer.
The sad fact is that it’s the truth for many. A life’s worth of savings vaporized in a matter of weeks. As they showed pictures of former BSC employees leaving the building after the deal was announced on Monday, I couldn’t help but think of them individually. Their lives had just been devastated by actions for which many of them, if not the vast majority, had had no part in the assinine decisions of the BSC Management and Board of Directors.
On the subject of deflation, 30,000 Delta Buy Outs, 54,000 Chrysler Buy Outs, 20,000 CA School Teachers to be let go come next Fall, and we are worried about inflation? How does one get inflation from a consumer who is totally tapped out and a slowing world economy? Oil will be hit along with the rest, but AG will hold up due to 6,000,000,000 hungry mouths to feed.
the rantings of the delusional ^^^^^
there was no rumor that caused that. It was predetermined in August of ’07 when the collateral could not be produced to “prop” yet another failed attempt at “up”
Wow…you really need to get Kudlow to turn the comments back on over at his POS blog….
Ciao
MS
Barry
The next time you are on Kudlow ask him if it is better to be a realist or a delusional optimist. But stand back his head may explode—lol
“debt and leverage is not prosperity, only the illusion of prosperity”
The quote about the dog is attributed generally to Harry Truman, and he said it about Washington. But it’s an apt borrowing of a phrase.
Now it’s Bear Stearns, a few yrs ago, Enron. Years ago it was Boeing. Boeing employees took a triple hit in the late 60s economic downturn:
1) Boeing stock collapsed – many had all their life savings in the company stock.
2) They then lost their jobs, and finally
3) Their home values in Seattle were devastated.
Their travails 40 yrs ago made me a true believer in diversification.
amazing, hats, t-shirts, and golf balls, selling at exorbitant prices, it almost makes me want to buy something just to say i have it. well its worth going to ebay and at least checking out…