Tuesday, 18 March 2008

Bear Stearns Executive Bonuses Greater than JPMorgan Purchase Price for Entire Company.

Investment guru Jim Rogers on the Bear Stearns bailout:

On why Bear Stearns was bailed out:

You know the reason they did it this way was because, if Bear Stearns had to declare bankruptcy, you'd realize that Bear Stearns paid out billions of dollars in bonuses in January - six weeks ago. If he let them go into bankruptcy, they all would have had to send back their bonuses.

This is what they're doing, they're doing it so they don't have to give back their bonuses. That's why they didn't put them into bankruptcy. Jamie Dimon has gotten a great deal because the Federal Reserve is paying for it. The Federal Reserve is using taxpayer money to buy a bunch of Bear Stearns traders' Mazeratis.

http://themessthatgreenspanmade.blogspot.com/2008/03/jim-rogers-on-bear-stearns-bailout.html

Bailouts for the rich while the poor get slaughtered.


[Posted at the SpookyWeather blog, March 18th, 2008.]

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