Is it just me or do you also see the huge irony in the government takeover of Fannie Mae and Freddie Mac? This is a Republican administration. One whose mantra has been let the markets be and all will be well. Yet now they step in and nationalize the two largest mortgage lenders in the […]

Most of you don’t follow this stuff too closely, but allow me to note the passing today of Bear Stearns a quirky New York investment bank. Here is the New York Times story:JPMorgan Acts to Buy Ailing Bear Stearns at Huge Discount Banking can be a fabulously rewarding business, but it can also humble quickly. […]