Marketing Commentary- Q1 2008
What’s Been Happening? The first quarter of 2008 was memorable. To many observers Bear Stearns’ swift collapse would have seemed unthinkable. Quick action over a weekend in mid-March by the Federal Reserve and JP Morgan may have averted a crisis of confidence in our capital markets that left unchecked could have had disastrous consequences. Much of the press coverage referred to the action as a bailout, but the firm’s shareholders and employees would beg to differ. The stock, which traded at $150 in May 2007, now hovers at around the $10 purchase price offered by JP Morgan. The bond market...
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