dChan - Q Origins Project Archive

OTD: 2008 Bear Stearns has it's earnings call and continues to avoid any reality-by the following Monday-'bought' by JP Moran

Bear Stearns went into the weekend on March 14th (a friday) with the recently agreed upon 28-day bridge loan (and FED backstop). The shares opened the week at $69.75 and traded as high as $159 last year.

Three days earlier-see video ….does this sound familiar?'''

Schwartz and Molinaro insisted on Friday's call that there have been "no material changes" in Bear Stearns' financial strength in recent days, and that the firm expects its first-quarter results to be within the range of analysts' estimates when Bear Stearns posts its numbers Monday afternoon. But Molinaro also admitted that Bear Stearns was in dire straits Thursday night, after some firms that trade with it - fearful about rumors of a liquidity squeeze at Bear Stearns - "no longer wanted to provide financing." In short, the Fed is allowing J.P. Morgan - a commercial bank - to act as a conduit for pumping cash into Bear Stearns. The bank is being permitted to give Bear Stearns collateral at the Fed's emergency-lending discount window to secure 28-day financing, which in turn is lent back to Bear Stearns in order to finance its business.

https://money.cnn.com/2008/03/14/news/bearstearns.fortune/index.htm

Monday, March 16th, 2008

Bear Stearns collapses, sold to J.P. Morgan Chase

https://www.history.com/this-day-in-history/bear-stearns-sold-to-j-p-morgan-chase

Later in the week the offer was revised to $10/sh from the $2/sh and by June JP Moran had acquired the depositor base of Washington Mutual after a brief "fight" with Shitibank

Jim Cramer: "Bear Stearns is Fine!" Tues, 3/11/08

https://www.youtube.com/watch?v=gUkbdjetlY8

This is where the legacy short position was handed off to JP Morgan (and Bear got it from Drexel, Burnham, Lambert-and they made Michael Milken a 'star' after his minimal jail term at Club Fed-who got it from Saloman Bros. and the list goes back decades). They contiued to manipulate it with Blythe Masters with what is known as the "clean-up" crew. That included William Daley (who went on to become Hussein's CoS for one year (1) and was placed there for one thing and one thing only-run up Silver and then smack it down the day the UBL was "captured".

Intersteringly enough yesterday (as Ag went up as the regional bank stocks were crashing) there was 130,551 contracts 'traded' whihc equates to 652,755,000/ozs of paper Ag created and dumped on it-so imagine if this was not case and where the proice would be…well north of $22 I can assure you

https://www.cmegroup.com/markets/metals/precious/silver.volume.html