BEAR BED

BEAR IN THE WOODS SAVED BY GRANDMA

Treasury Undersecretary Robert Steel echoed Bernanke's comments, noting that the government's focus was "not on this specific institution, but on the more strategic concern of the implications of a bankruptcy. "The failure of a firm that was connected to so many corners of our markets would have caused financial disruptions beyond Wall Street," he said. Jamie Dimon, JPMorgan's chief executive, said his firm would not have agreed to buy Bear without the Fed's financial backing, and insisted that JPMorgan did not "cherry pick" the best Bear assets. Under its deal with the Fed, JPMorgan will have to incur the first $1 billion in any losses should Bear's assets deteriorate further.

**HEY what's $30B to JPM??? this smells.....another bank will go... liquidity is drying up. banks dont want to lend...venture capital co's out of money...funded newbie companies folding....no IPO stream....NO HOME ATM'S...no wage growth, job losses, delcining home values,defaults rising,credit cards next,free money not flowing to Hedgies,deleveraging continues....levering up good..unwinding bad.......OK friends, what makes up for all this lost stream? exactly and I wonder who thinks SPX profits also arent coming back to earth as RIMM goes to 18X book 13X sales ASSININE

Duratek