Update! Despite earlier reports, JP Morgan has raised the bid for Bear Stearns from $2.00 a share to $10.00 after major negative feedback from stockholders.  This puts JP Morgan’s ante up to roughly $1 billion.  The Fed will lend JP Morgan another $29 billion to seal the deal.  What’s in it for the Fed you [...]

The Federal Reserve took dramatic measures this past week to try to inject a little calm amidst the concern over not only the housing market, but Wall Street and the credit crunch as well. To begin with, the Fed assisted in the sale of Bear Stearns, one of Wall Street’s biggest and most storied banks. [...]