Read between the lines of the Bear Stearns-JP Morgan story and it seems clear that the parties who insisted on the original $2 deal price were not JP Morgan (JPM) executives but Secretary of the Treasury Hank Paulson and Fed Chairman Ben Bernanke. Dimon is scurrying away from the $2 price as fast as he can. The Fed has denied that it insisted on the $2 price, but Treasury (and Hank Paulson) have not.
Andrew Ross Sorkin reports:
There's been...
]]>