Mar 19 2008
BSC
Last Friday we were talking about Bear Stearns, speculating that one or more hedgies wanted their money out [fm Bear] but couldn’t. So they told other hedgies, hence the Northern Rock began, on Wall Street. Reportedly, Jamie Dimon was having a relaxed birthday (FT put him at 51, NYT 52 .. I know I need a life ..) dinner with his family when he got a call. It’s thorny every time I see him pranced out as the white knight. Ya, he had since reconcile with his mentor Weill, but Citi is in the dig and Chase is being toasted. Just to think about the employees of the BSC holding the stock in their 401(k), it’s $93 on Feb 1, 2008, and 4/23/07 was $159, and it’s traded $2 on Monday, now hoving around $5.