Credit Suisse is totally not going steady with Bear Stearns. Ruddy Brady Dougan—the Irishman who is somehow chief executive of the Swiss bank—told Credit Suisse bankers at the meeting of the Committee To Run The World in Davos, Switzerland that a deal to acquire Bear Stearns is a “non-starter,” according to Mark DeCambre at TheStreet.com.
But now everyone is awkward about it. Bear spokespeople decline to comment, look away embarrassed. The Swiss aren’t talking either, just staring down at their shoes mumbling about already having plans and such.
Credit Suisse CEO Squashes Bear Stearns Takeout Talk [TheStreet.Com]
Posted by whome , Jan 31, 2008 12:47PM
he's Irish just like the Notre Dame football team is Irish....but he is American
Posted by JJett , Jan 31, 2008 12:56PM
4x book 4x book 4x book 4x book
Posted by , Jan 31, 2008 1:38PM
Some one is blowing up out there right now...
Lots of crazy spray painting going on in the rush to clean up the books by the EOD/EOM dance.
example, the Rut is leading this market...
Housing is flying... like there is a real demand for new houses, or the companies that make them.
IB's are green after making a wicked move today.
Energy is bad joke again after having a record draw, 10% of the NG reserves were sucked out of the ground last week.
If it worked in the past, its last this month, so who is taking their beatings right now?
How long until real confession time in Hedgistan?
Posted by MrAdExec , Jan 31, 2008 1:43PM
"It’s Not You, It’s Us." UBS.
funny....think that is what UBS should change its advertising slogan to as an apology to its shareholders for the debacle that has become the key to their legacy.
Posted by Holla Bitch , Jan 31, 2008 2:04PM
Eh yo, this is old news.
Brady and the bunch are too busy tryingto figure out what to do with $52B in 'hung' loans. Hahahahahaha
Too funny. Consider book value of CS is only $35B. Hahahahahahaha
Hmm Marty Fridson estimates that many of the LBO loans circa 2007 are trading at distressed levels- can someone say haircut ??
Gee what is 10% on $52B oh $5.2B or 1/7th of book (14%) up in smoke..
Maybe Bear merges with Shock Gen- now that would be nice...
Holla