Historic Day Bear Stearns Taken Out For $2

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March 17, 2008

BSC gets taken out for $2 a share today by JP Morgan and the Fed takes on the debt.

LEH and MER down hard premarket, while JPM up 1% because they are benefitting from this deal.

The Fed also cut the emergency lending rate to 3.25% and opened up the window to Investment banks as well.

Market futures are down big premarket, but you never know this might reverse and would be the most surprising item. 


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