The Wall Street Way

Posted by John Carney, Mar 17, 2008, 9:09am

Buy low, sell high, of course. Sadly, this "Schoolhouse Rock" lesson comes too late for owners of Bear Stearns. (via Mises.org)

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Posted by Investorcluzo, Mar 17, 2008 9:43AM

first beyatches! beat you dave...great video. I loved "leroy" the stock broker, so p.c. speaking of videos, anyone else notice cnbc flashing the stock prices of financials where they typically just show the major market avgs and commodities? this is just adding to the hysteria. that's what sells ad time so, as jimmy cayne would say, "it's par for the course".

Posted by guest, Mar 17, 2008 10:33AM

Hello. Can you guys (and gals) do a story on what is happening to Bear Stearns' employees today? Are they being fired/told they will be reassigned/shuffled off to human resources/herded to the windows/or told to go play bridge?

Posted by guest, Mar 17, 2008 11:07AM

You are welcome:

http://newyork.craigslist.org/mnh/adg/608776213.html

Posted by guest, Mar 17, 2008 12:00PM

Remember Hoovervilles? Now they're being called Bushvilles:

http://www.youtube.com/watch?v=CnnOOo6tRs8&fmt=18

Nice! See all you less fortunate BSC employees (those who had most of your 401(O-kay!) savings in BSC stock anyway) in Bushville!

Posted by guest, Mar 17, 2008 2:32PM

@10:33 - Bear Stearns employees were told after the sale last night to come to work, that salaries would remain the same, and so would vacation requests.

I would imagine that every Bear Stearns division is involved in their regular business because transactions are guaranteed by JP Morgan, so no reason for counterparties to flee. Plus the employees are compiling detailed summaries of their divisions' positions to aid in the transition to JP Morgan. The various divisions did quick summaries over the weekend to assist in the sale. A lot of key data had to be estimated or guessed.

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