Bear Stearns Disgrace

The stock market has been behaving much better lately, and some folks are ready to declare the worst is over and it’s up and away from this point on.  Yesterday’s big rally was fueled by the revised offer for Bear Stearns that cheered many Wall Streeters.  The new offer came after big Bear Stearns shareholders embarked on a major whining offensive of how they were being screwed by the original offer to bail out the firm.  For my part, I want to know about the poor fools who were duped by all the junk that BS has been peddling for the past several years.  Who listens to their complaints?  As readers know I have no sympathy for the creeps at BS who created all these complicated financial instruments that are essentially worthless today.  These folks should suffer just like the people who were duped into buying them.  I supported the efforts of the Fed to bail out BS because to have that house of thieves go under would have been disastrous for the financial systems and hurt countless number of investors. But to sweeten the deal for the already millionaires at BS can get out at a higher price is just plain wrong.  No, it’s a disgrace. 

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