6/10/2009

What is wrong with this picture.....??

"Federal Reserve lost $5.25 billion in the first quarter on the securities it acquired with last year's bailouts of Bear Stearns and insurer American International Group, according to a report issued Wednesday.
Mary Altaffer / AP
Federal Reserve Bank Chairman Ben Bernanke
The loss on the holdings, which include mortgage-backed securities, reflected a decline in their value as the recession carried over into the first three months of this year. The cumulative loss on the Bear and AIG holdings come to $16.46 billion since they were taken over last year."

Did JP Morgan Chase lose money on their Bear Stearns investment??? I don't think so. WTF!!!!

If you haven't sold all your stock holdings yet, the market is going to give you one more chance Thursday, Friday or perhaps next week.

Sell all holdings and for those who are agressive, go short!