Just Wondering

Posted by blndebnker, May 13, 2008 10:37AM

Anyone who truly believes that the execution of due dilligence was completed in 48 hours is dilusional. There had been rumors about JPM buying Bear since last summer and you KNOW JPM has been sizing them up. The real sit-downs may have taken place that weekend but the absolute truth is that a lot of information was already in the possession of JPM.

Posted by guest, May 13, 2008 10:42AM

bindebnker.......May 13 10:37 am. Thanks to people like you we, who do not totally understand the jargon between financial folk, can be reassured that some times we a getting bullshit....instead of fact.

Posted by guest, May 13, 2008 10:45AM

@10:37 Was that material non-public info, BB? I doubt it. Get back to doing whatever you do badly.

Posted by blndebnker, May 13, 2008 11:11AM

Wow lots of haters out here today. Hate on. I know from inside sources, thanks.

Posted by guest, May 13, 2008 11:37AM

blnde--i'm not a hater, so, can I white-wash your ovaries?

Posted by guest, May 13, 2008 11:37AM

blnde, shake em off. They are still trying to figure out how to sell their hung deals (the only thing hung they have btw) and the new development that their unchecked egos have literally written checks they can't cash. Clear channel - "draft nuclear versions" and "draconian" terms? I think you guys are stuck with that b*tch.

Posted by blndebnker, May 13, 2008 11:51AM

guest #1 @ 11:37am - No thanks, I'm all set.

guest #2 @ 11:37am - Haha thanks. Judging by the bravado, I don't think there's anything hung about the crowd on this site (generally speaking, of course).

Posted by american bandersnatch, May 13, 2008 11:55AM

Maverick, your ego is writing checks your body can't cash

Posted by guest, May 13, 2008 11:57AM

bb me from 10:45. Much calmer now... Just trying to point out that its unlikely that the extened due diligence process that you site involved material non-public info. JPM was working on the deal for weeks but thats not news. They have people that continuously evaluate potential acquisitions.

Posted by guest, May 13, 2008 11:58AM

inside sources? christ that information has been in the papers since mid march.

Posted by blndebnker, May 13, 2008 12:02PM

@11:57am - I appreciate the sedate revisit. And yes I know that is not news. What I was pointing out is that from what I was told, detailed due dillegence was done last summer when BSC's hedge funds unraveled. How much talks were in the works I don't know. If you know more than I, feel free to share. I'm not branding myself the be-all, end-all here.

Posted by guest, May 13, 2008 12:08PM

Don't want to sound preachy BB, but the take away here is that when it comes to material information, you need to make a distinction between that which is public and that which is non-public. SEC rules would prevent giving JPM access to Bear's non-public info "months before". Therefore the due diligence you site is not extraordinary in any way, but instead that which is routinely done by people sniffing out acquisition targets. In fact, its not even due diligence, but acquisition research.

Posted by Anal_yst, May 13, 2008 12:12PM

@ 10:42, etc

Correct me if I'm wrong, but BSC banked with JPM, and had been for years, no? If that is in fact the case, they'd have plenty of non-public BSC data on-hand already, as well as "long"-standing relationships allowing them insite analysts, etc would not have.

Posted by blndebnker, May 13, 2008 12:12PM

@12:08pm - Thanks for the lesson, master. I vaguely remember reading that when I was studying for the 7. Or maybe in a compliance bulletin. Something like that.

Anyway, read it at face value.

Posted by guest, May 13, 2008 12:15PM

@12:12 and I assumed you still passed the 7... Scary.

Posted by blndebnker, May 13, 2008 12:17PM

Thank you Analyst. Yes, JPM cleared for BSC as well as housed many of their cash accounts.

Posted by guest, May 13, 2008 12:17PM

@12:12 I'm sure youve heard that there's a "Chinese wall" that would prevent that customer info from working its way into the due diligence process. In theory anyway.

Posted by blndebnker, May 13, 2008 12:19PM

@12:15pm - I was being sarcastic and yes, I did with flying colors. And no, I didn't take it more than once.

Posted by blndebnker, May 13, 2008 12:21PM

I don't think there's a Chinese Wall at the bar.

Posted by Anal_yst, May 13, 2008 12:28PM

12:17, I'm well aware, but as blndebnker points out, (see: Grubman, Jack), who knows how well they held up. Also, and again correct me if I'm wrong, but couldn't BSC have given JPM permission to go over the Walls to access info they already had in other departments?

Posted by StupidEquityGuy, May 13, 2008 12:36PM

BB,

I think you and I were in the same 7... but this would make you a dino like myself...

Don't let the noise bother you... Even I know that JPM held part of Bears Book and Chinese walls last until a big quake happens...

~SEG

The brain tired one...

Posted by blndebnker, May 13, 2008 1:28PM

@SEG - I just took mine last year. When did you get yours?

And thanks to you and Anal_yst. Nice to see someone's got a girl's back around here.

Posted by guest, May 13, 2008 1:37PM

guest@11:37AM(1),

Dude...White-wash blnde's ovaries? Forget it. Her ovaries take only black wash.

Posted by blndebnker, May 13, 2008 1:51PM

Can we leave my ovaries out of this? They aren't getting washed by anything coming from the likes yous.

Posted by StupidEquityGuy, May 13, 2008 2:00PM

BB,

A long time ago, in a Galaxy far away...

~SEG

Posted by blndebnker, May 13, 2008 2:07PM

SEG - And you managed to hold onto it. My biggest fear in life is that I leave my firm and have to take it all over again. That would be tragic.

Posted by counterclockwise, May 13, 2008 2:19PM

Bess writes: "Jamie Dimon set the record straight yesterday afternoon on CNBC. He and JPMorgan will not be buying another failing investment bank at the last minute."

Bess, the brief interview linked to your comments was dated April 4, 2008, six weeks ago. There is also an internal reference in the remarks made by Maria Bartiromo about the "hearing," which was the hearing held before the Senate a few weeks after the deal was made.

In terms of Jamie Dimon not buying another failing investment bank on short notice again, I doubt that the Federal Reserve would provide $29 billion to sweeten the deal again. Although the Fed is politically independent, the political fall-out could motivate Congress to take that independence away. Which would be a bad thing.

Posted by StupidEquityGuy, May 13, 2008 2:41PM

BB,

Actually I let 3 of the 4 of them go when I switched sides... 7 was one of them...

~SEG

Posted by blndebnker, May 13, 2008 2:51PM

SEG - Ouch. That blows.

Posted by Investorcluzo, May 13, 2008 3:07PM

did someone call for a blackwash? ( ; good to see someone else fielding all of the comments today. I said it before and I'll say it again: blndebnker, don't take any of this $hit personal...

where's mr. p today? is he out interviewing or is he enjoying some well deserved time off?

Posted by guest, May 13, 2008 3:10PM

If you have trouble getting licensed, be honest to yourself and admit this isnt really for you.

Every Guido-douchbag has a license.

Posted by guest, May 13, 2008 3:21PM

Agree here. Comeon, is it that hard? You people should try CFA, you would shit your pants.

Posted by blndebnker, May 13, 2008 3:23PM

@3:10pm - As I said previously, had no trouble getting the license. It's just a pain in the ass. So please don't pretend you would gladly walk in there and take it again for shits and giggles like it's a trip to Great Adventure.

Douchebag.

Posted by blndebnker, May 13, 2008 3:24PM

Hey Cluzo - No worries...They're just on me again today because God knows a chick in finance is the devil. Not sweating it. I'm actually entertained. How are you making out?

Posted by guest, May 13, 2008 3:41PM

blndebnkr@3:23PM,

You signed your posting with "Douchebag". That's about right, but you should add "Dimwit" as well. That suits you.

Posted by guest, May 13, 2008 3:45PM

@BB -- you ignorant slut, its just a dopey test. If you think it reflects anything, you need to take a real test. Like a bar exam and mixing martinis doesnt count.

Posted by blndebnker, May 13, 2008 3:46PM

@3:41pm - Clearly you aren't smart enough to notice the punctuation after "douchebag". Since one does not punctuate their signature, that was obviously a declarative statement and not a signature. You're a moron.

Regards,

Blondie

Posted by blndebnker, May 13, 2008 3:50PM

@3:45pm - You guys are hilarious. I never said it reflected anything other than the fact that I passed. Did you fail or something? Because you are awfully bitter about all this. Or maybe you just took it 4 times to pass. Either way, you're still a-okay. No need to hate on a girl that's smarter than you.

Posted by guest, May 13, 2008 3:53PM

blndebnkr@3:46PM,

NO, I think that you really did sign with "Douchebag". Now you are just trying to cover up your introspection.

Posted by blndebnker, May 13, 2008 3:59PM

@3:53pm - No, actually I was just calling you a douchebag and pointing out that you spelled it wrong in your original posting. But whatever floats your boat, sweetheart.

Posted by blndebnker, May 13, 2008 4:01PM

I'm out boys. Enjoy your afternoons. Kisses.

Posted by guest, May 13, 2008 4:08PM

blndebnkr@3:59PM,

I didn't write the 3:10 entry that you were responding to in your @3:23 posting.

Looks like "Douchebag" and "Dimwit" are still synonomous with "blndebnkr".

Posted by guest, May 13, 2008 4:23PM

BB: you're gonna get kicked out of the club here for leaving work so early. Don't you know, the recurrent riff is how hard and late everyone works. You might think that those people you see at 5;01 at Seaport and Clarke's are bankers. Truth however is that they're actors, hired to look like bankers and give the place some buzz. The real bankers are working till 10 pm.

Posted by Investorcluzo, May 13, 2008 4:39PM

blndebnker: you must have been to boxing practice this weekend. talk about entertaining. it's all good on my end. just drove out to the golf club, couldn't let a beautiful day like this pass by. but I'm still waiting for my big fat italian dinner with girl...I may need a filler. off to the course.

Posted by guest, May 13, 2008 4:49PM

Did cluzo just call girl a big fat italian?

Posted by blndebnker, May 13, 2008 5:05PM

@4:23pm - Didn't actually leave... had a meeting. I have an intermission for a few before another one. Pretty psyched about it. And definitely don't want to get kicked out of the club.

Cluzo - Haha yeah I have my gloves on. I'm rather jealous you got out today. All I got was a 10 min walk for lunch. I'm surprised girl is keeping you waiting. Penne vodka is awesome.

Okay back to fun and games...