In repsonse to the BSC to the Woodshed comment thread, it’s being reported by CNBC that JPMorgan has offered to buy Bear Stearns at $15-$20 per share. Currently, Bear Stearns’ management is meeting to consider the sale of their company. If BSC doesn’t accept, could we see them go bankrupt? In any event, expect some nice fireworks tomorrow. If BSC’s book value is this low, what does that mean (if anything) for the other financials like Lehman or even Goldman?
Source: CNBC