Bear Bailout: Employees’ Fortunes Vanish

Fox Business ^

[starlifter]

One of the more stunning developments of the Bear Stearns (BSC: 4.81, -25.19, -83.96%) fire sale is that many of the firm's 14,000 employees, as well as the firms many thousands of shareholders, have just watched their stakes in the company go up in smoke.

[starlifter]

I'd like to be sympathetic, but my give-a-damn is busted. There never seemed to be any concern for people on the losing end of Wall Street's machinations.

Sorry about the bonuses, but that's life. You could have sold the stock.

Long, long ago, there was a company named Enron. It was a great company that made everybody rich...

[Ingtar]

I know someone that intended to sell Bear-Stearns short at 74 for today. At the last minute, he bowed out on his short order of 1500 shares.

[Anti-Bubba182]

Oops - CNBC's Cramer Said 'Don't Move' From Bear a Week Before Collapse

Maybe they should sue Cramer.

[SlapHappyPappy]

Cramer is hardly one to trust. Anyone that bases decisions on his advice deserves any losses they take.

[Moonman62]

I wish I had a dollar for every time somebody on FR has proclaimed that they don’t care about somebody else’s misfortune.

[freeangel]

“Bears massive holdings backed by subprime mortgages and other risky....”

None of the employees complained when their “risky” investments were making a ton of money. Now, they want us to cry because their investments were “risky” —they bet, and they lost this time.

[Hildy]

So you’re angry at capitalism, correct? In case you don’t know, this is how many large companies work. Bonuses are given in stock, etc. and that’s what people put away for their retirement. Where not just talking about the top guys, the small guys got ripped too..secretaries and the like. Doya think you can muster up a bit of sympathy for them, or maybe you only care about yourself.

[Hildy]

So you’re angry at capitalism, correct? In case you don’t know, this is how many large companies work. Bonuses are given in stock, etc. and that’s what people put away for their retirement. Where not just talking about the top guys, the small guys got ripped too..secretaries and the like. Doya think you can muster up a bit of sympathy for them, or maybe you only care about yourself.

[Revolting cat!]

Champagne tonight at Client 9’s house in upstate NY. There is a silver lining, after all!

[starlifter]

More like ill-gotten gains is my thesis...

[Lucius Cornelius Sulla]

Unless the stocks were not under the control of the employees, so they couldn’t sell it, they should have diversified, instead of putting all their eggs in one basket.

[am452]

I'd like to be sympathetic, but my give-a-damn is busted.

Exactly. After Enron they should have known better. This coming from the same employees who had the huge obscene Christmas bonus every year and were buying the 25K gold covered ice cream sundaes down near Wall Street. Remember those sundaes?? Greed and more greed was their problem.

[starlifter]

It would take far too long to explain.

Not angry with capitalism at all. In fact, this is capitalism at its best. The market decided Bear was expendable. That’s capitalism.

I am angry with the business philosophy saying that anything that makes money is a good thing. There is a right and a wrong in play here.

[am452]

25,00 ice cream sundae, $1,00 bagel, $100 hamburger.

SCREW THEM ALL

A fool and his money are soon parted, the old saying goes. Not in New York, however, where any young woman will assure you a fool and his money make for a great night out.
If, as Paul Simon sang, there are 50 ways to leave your lover, New York’s Second Gilded Age provides as many ways to fleece him first. There’s the $1,000 bagel, the $1,450 omelette, and the relatively cheapskate $100 burger.

But the sweetest mix of decadence and stupidity comes courtesy of Serendipity 3, the kitschy, claustrophobic East 60th Street restaurant where a chocolate sundae carries a $25,000 price tag.Of course, an ice cream that costs more than what 20 per cent of Americans make in one year is little more than a publicity stunt - but it is also an experience that is very much in demand by those who are richer and thicker than the chocolate sauce that adorns it.

The Frrrozen Haute Chocolate is a blend of 28 cocoas, infused with five grams of 23carat edible gold. The goblet in which it is served is also lined with edible gold, and the edible bling is served with a gold and diamond dessert spoon which you get to take home with you.

The sundae is topped with whipped cream, covered with more gold and a side of La Madeline au Truffe from Knipschildt Chocolatier, which sells for $2,600 a pound.

[TopQuark]

Where not just talking about the top guys, the small guys got ripped too..secretaries and the like.

I pointed out the same on the second thread by the same poster. He sounds no more than a unionist plant.

It's good to see you again, Hildy; hope all is well with you.

[Strutt9]

AMEN!!!!!!!!!!!!!! Did any of them cry a river when they were receiving X-mas bonuses?.. those bonuses included Administrative staff and janitors in the 100Ks’. If they haven’t learnt from Enron situation... I’m certainly not going to feel bad at all.

[ItisaReligionofPeace]

You’re a real classy person.

[Liz]

The Grand Opulence Sundae from famed Serendipity of New York City made up of the best of the best. According to the restaurant, they sell approximately one a month, so apparently, quite a few people have some money to indulge in such opulence. The Golden Opulence Sundae, the "World's most expensive sundae", was created to celebrate Serendipity's 50th Anniversay last year. (If you are paying attention, the 50th anniversary is the "golden" anniversary. Get it?) Made with "5 scoops of the richest Tahitian vanilla bean ice cream infused with Madagascar vanilla and covered in 23K edible gold leaf, the sundae is drizzled with the world's most expensive chocolate, Amedei Porceleana, and covered with chunks of rare Chuao chocolate, which is from cocoa beans harvested by the Caribbean Sea on Venezuela's coast. The masterpiece is suffused with exotic candied fruits from Paris, gold dragets, truffles and Marzipan Cherries. It is topped with a tiny glass bowl of Grand Passion Caviar, an exclusive dessert caviar, made of salt-free American Golden caviar, known for its sparkling golden color. It's sweetened and infused with fresh passion fruit, orange and Armagnac. The sundae is served in a baccarat Harcourt crystal goblet with an 18K gold spoon to partake in the indulgenceserved with a petite mother of pearl spoon and topped with a gilded sugar flower by Ron Ben-Israel." Visit Serendipity's website www.serendipity3.com for more information.

[Billthedrill]

Huh. Pour a Mountain Dew into that thang and you’d have a float. BTT.

[Global2010]

Compassion of a Rock syndrome?

I agree with you regardless of the motivation of some posting “too bad” “shoulda known better”.