Charlie Rose… Bear Stearns… and You

Firstly, I had a terrible day, but not as bad as Charlie..who was sporting a black eye on the left side. His comment was that he tripped and fell on the pavement. Yikes.

He did a show on how over the weekend JPMorganChase has agreed to buy a failing BearStearns bank for $2/share in some super conference call involving the FED and other major banks.

Something about liquidity (available cash) being in jeopardy as some had demanded their money investments back from BearStearns.

The word “recession” keeps getting said but now “depression” and “run on banks” is creeping more and more into these discussions.

It seems that everyone is in a “wait and see” mode as more and more of the foreclosures in the housing markets come to completion.

Frankly, I didn’t come away with much hope about the economy for the next few years. Not good…

I would love to hear Bill Maher or Michael Savage discuss this…

*** This just in… the blogsters are reporting that Charlie took a fall and saved the new “Mac Air” and instead landed on his face…  Ouch. 

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