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
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