Only if you have friends in high places:"balover" said:What a deal! Does this mean more is to come? Maybe time to move back to the States and go bargain hunting...
Addendum: The Bear Stearns building alone is worth $1.2bn -- and JP Morgan gets that for its purchase price of $256m. Plus the Feds will underwrite any bad loans from Bear Stearns (at taxpayer expense of course). So it's all gravy for JP Morgan, with no downside. Talk about a government for the rich, by the rich, of the rich....The Fed will provide special financing to JPMorgan Chase for the deal, JPMorgan Chase said.
The European social democracies (but emphatically not England). Even countries like Argentina -- which have the same level of economic inequality as the USA at least are more responsive to popular sentiment than the USA. In terms of corruption and crony capitalism the United States now resembles a thord-world tinpot dictatorship."RWS" said:It's been this way for a long, long time. It's worse in Argentina, though. Come to think of it, is the situation different anywhere?
Power corrupts and absolute power corrupts absolutely. This phrase of Acton arguably captures the difference between, say, France and the USA."RWS" said:Hmmm . . . . It's been a long time since I lived in Germany and (briefly) France, but I'd suggest that this corrupt cronyism is merely better disguised in some other lands. Sad to say, abuse of power may be an inescapable human tendency -- that's why laws and their enforcement are needed, aren't they?