Fed to the rescue? That’s doubtful

Regarding “Bear fetches a better price, shoring up deal,” March 25, on JPMorgan Chase & Co. raising its offer for Bear Stearns Cos. stock from $2 to $10:

If the Federal Reserve and JPMorgan together can’t evaluate the assets of a single investment bank within a factor of five, how reliably can the Fed “manage” the economy?

Lewis Cohen

Riverside