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In the deal crafted on Sunday for Bear Stearns, JPMorgan Chase agreed to pay a mere $2 a share for Bear — less than one-tenth the firm’s market price on Friday….The sale price includes Bear Stearns’s soaring Madison Avenue headquarters.
If you still think Canada or the rest of the world should not worry about the sub-prime problems in the US. Think again, the world financial system is heavily interconnected. Today stock markets fell in Asia, India, Europe and Canada. Suddenly gold at $2000 does not sound impossible, people are looking for a place where they will be safe, few assets will be left standing.
