Ben Bernanke Got Punk'd

Motley Fool:

Yesterday's fivefold increase in JPMorgan's (NYSE: JPM) bidding price for the Al Capone vault that Bear Stearns (NYSE: BSC) has become is as shocking as the original $2 a share cold shower that greeted the market a week ago. But this time, it's a slap in the face of the Fed-fueled buyout that Ben Bernanke helped orchestrate between JPMorgan and Bear Stearns by gnawing away at the risk.

So if you notice that one of Bernanke's cheeks is a richer red than the other, it's not because he's half-blushing, or caught a spring training baseball game where the sun only sizzled half of his face. He got slapped. He got Punk'd. If he missed the hidden cameras and the B-grade actors setting up the prank's volley, surely he'll figure that much out once Ashton Kutcher pops in for the spike.

I was one of those who sheepishly praised the Fed for taking action to keep Bear Stearns from collapsing. I was duped, too. I didn't realize that the Fed was putting up a dowry for a wedding that it apparently wasn't even invited to attend.

Read the whole story: Motley Fool

Comments

[nastyvirus]

I'm getting this bizarre result when I try to post:

nastyvirus See Profile I'm a Fan of nastyvirus
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Reply Favorite Flag as abusive Posted 10:02 PM on 03/25/2008
:::0:::121­32970:::93­351::: :::posted

Bring back the olde format!

[nastyvirus]

test

[nastyvirus]

Heck of a job, Bernake! Sound familiar?

[funkalicious]

Ben punked. more like the American Tax Payer which means the middle class.

Bernake loans out 30 billion on 28 day loan and accepts in collateral paper issued by a bunch of assholes.
The funny part of the punk is when we look in the bag and it is full of steaming sh*t.

Punked by Ben, Bear Stearns and JPM are the second rate actors setting us up.

Dollar is worth half of what it was wait till Hillary punks us again when she gives away homes with Oprah to people who cant afford their credit cards house payment, or the up keep on the house they bought with zero money down.
But the bankers made swindled yo for Billions. nothing like watching your three year old run with shackles on his ankles owned by the FED. You been owned punk.!!

[dadw5boys]

I would rather give homes to those working everyday to make an honest living than these scammers who took HUGE STOCK OPTIONS in December when they had to know Bear and Steans was about to implode!!!!!

[WIpatriot]

Is this even legal??

[JohnFromCensornati]

Where's the part about Ben getting punked?
I don't think this is coming out of his pocket.

[Rule Of Law]

Bernanke's a shill for the corporate elites. Now, Hillary wants to bring Greenspan, the guy who told us in 2003 not to worry about the mortgage markets, and the same guy who lobbied for repeal of Glass-Steagall under Bill. Clinton, back to run Her economy. This must stop!