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Thanks Tim..I was just
wondering if there had been a way that the staff could have got a better deal.
Of course I know that JPM is hiring many of the top execs back to
BS..
----- Original Message -----
Sent: Thursday, March 20, 2008 11:06
PM
Subject: Re: [RT] Bear Sterns
Question
This never got that far. The credit concerns forced
the Fed
to choose a partner for BS and then indemnify
that partner. I was involved
in three of these deals
in the 1987 crash, where my bank washed the
credit
until the deals were announced after the
market
closed.
There was no choice.
And no, in bankrupcy
court, shareholders stand in line
and they are last in line. The emplyees,
unless they
have an unusual clause in their contract [think
golden
parachute with protection] are at best one step above
that, but
generally are at the same level.
Tim Morge
www.marketgeometry.com
--- ketayun
<ketayun@xxxxxxxxxxxxx>
wrote:
> If BS had gone into Bankruptcy would the employees
>
have been better off as in being first creditor?
> Clearly the
shareholders lost anyway.
>
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