“Bailout!”

Summary:
According to the scientifically unqualified, this is a “bailout!”: Alan Schwartz, who was the chief executive of Bear Stearns when the investment bank collapsed, the first casualty of what would become the global financial crisis, said it was the government that set the price tag for Bear’s March 2008 fire sale to JPMorgan Chase at a share.  Shareholders were livid after Schwartz announced a deal with JPMorgan Chase (JPM) CEO Jamie Dimon that valued the company’s stock, which had traded at 2 a share as late as January 2007 and a share as recently as February 2008, at just two bucks. The stock was trading at per share as recently as days before the announcement. Yahoo: Former Bear Stearns CEO explains how JPMorgan came up with their a share offer in 2008

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