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prime broker

Bear Stearns is worth slightly less than A-Rod

March 16, 2008

Obviously the news of the hour is that J.P. Morgan is buying Bear Stearns for $236mm, or just $2 a share, meaning the firm is worth only a fifth of the value of its own midtown headquarters.  The Yankees paid more for their third baseman. More gravely, despite the WSJ headline, there is no "rescue" […]

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