Sunday, March 16, 2008


so bsc goes for 270 million, or about 2 a share. remarkable turn of events that the fifth-largest i-bank goes down the tubes so suddenly. of course, it started last august, but the real decline came in a matter of days last week.

panic tomorrow in the markets? we shall see. an '87-like crash in the markets tomorrow? we shall see. i don't really think so, but you never know - especially these days with this fed and this administration.

you may read that all major financial institutions' equity is now zero, given the events at bsc. i think that's completely incorrect. however, the market may give you a once-in-a-lifetime gift in the shares of financials tomorrow. take it.

disclosure: long jpm - do your own DD!

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