J.P. Morgan Offers A Little More Worthless Money For Worthless Stock

  • Good news for angry Bear Stearns shareholders: “J.P. Morgan Chase & Co. has agreed to quintuple the price it will pay for Bear Stearns Cos. to $10 a share, hoping to stem criticism that the banking giant was getting too sweet a deal to snap up the ailing investment bank.” Hear that, stock owners? All your shares are now worth five times the nothing that they were worth a week ago! Congratulations. [WSJ]

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