Employees at Bear Stearns Cos were hardly celebrating the day after JPMorgan Chase & Co raised its bid for Bear five-fold.
Instead, resignation, bitterness and anger gripped Bear staffers, who are also major shareholders, as they bustled into the fallen investment bank's headquarters on a crisp, clear day in New York.
The new offer, while higher, was 88 percent below the stock's value a month ago, wiping out what was for many the bulk of their personal wealth.
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The 2024 election is heating up, and women's rights, health care, voting rights, and the very future of democracy are all at stake. Donald Trump will face Joe Biden in the most consequential vote of our time. And HuffPost will be there, covering every twist and turn. America's future hangs in the balance. Would you consider contributing to support our journalism and keep it free for all during this critical season?
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As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
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