Cosmic Iguana - Voice of the Evil Doers

I mean corporate bailout.... BLOOMBERG:

...JPMorgan, with backing from the Federal Reserve, agreed two days ago to buy the New York-based securities firm for about $2 a share in stock to prevent a collapse. The value of the transaction has climbed to $2.31 a share as the bank's stock price has rallied. Bear gained $2.12 to $6.93 at 1:30 p.m. in New York Stock Exchange composite trading... [*]

Unlike some people, including some economists [*], I'm not surprised. Not satisfied with a can't lose $30 bil guarantee, Morgan bargained itself into a double can't lose price. And the Feds, negotiating with other people's money, said " sure, why not."

With 100 million shares outstanding that's quite a profit in 2 days. All made on the back of shareholders.