Swiftest Cleanup of Bear Stearns - $2/share

This is too good to be true: paying $2 for each share in Bear Stearns! Lucky that I have not bought any BSC shares. But what is the protection available to the poor investors of BSC? Don't they have a right to investigate into the valuation of $2 a share for their stocks? Who has the legal right to determine such fantastic discounted price? It looks that we are seeing a bloodbath among a pool of crocodiles!

May I ask what are the causes of BSC's sudden failed liquidity? Who were responsible for such misfortune? Not the poor shareholders of BSC, I believe. Why are they the victims?

To me, the terror is that if such misfortune happens to another Wall Street firm, the same treatment may be given to the poor investors. The company has a sudden liquidity crisis, the Fed and another Wall Street giant come in and clean it up swiftly with another nominal value for the stocks, ... then close the file! I think this is the most efficient cleanup that I have ever seen.

I wonder how many of us could recall what happened to Peregrine of Hong Kong in 1998. It suddenly failed owing to the Asian financial crisis and the process of cleaning up the mess took many years. Well, compared with BSC, Hong Kong now appears to be highly inefficient.

I hope all of us should now think carefully about the financial system in the US. What worries me is that our Chinese companies including our China Investment Corp have invested a good deal in US financials and if the Americans can clean up BSC so swiftly, so what would happen if.....