%%- The Federal Reserve and JPMorgan Chase decided to join hands in rescuing Bear Sterns, the 5th largest US investment bank, from going bankrupt.
After the announcement yesterday by the investment bank that it was in serious trouble, its share value dropped 50% in 30 minutes after the market open.
%%- For Bear Sterns to fall down is like for a fish to get drowned.
A Wall Street giant, a firm that specializes in asset management and investment for it's clients, among other things. Oh, fund management too. And yet now gone under because of disrespect for risks.
Don't fish know how to swim? They do.
Doesn't Bear Sterns know how to control risks? It does.
So how could all this happen?
There's only one good answer.
Greed.
%%- Cities we're familiar with have changed and are "gone" so we "construct an imaginary city to store our memories". Well put.
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