Three Roads Blog

I CAN UNDERSTAND the Fed’s desire to preempt a larger financial crisis by helping broker a deal between JPMorgan and Bear Stearns.

I can also muster a high degree of sympathy for the hapless Bear employees who had everything in Bear stock.

I can’t, however, fathom why Bear shareholders should be entitled to get a certain price for their shares. I just don’t get it. (Please, someone explain it to me.)

I’ve never used the following acronym before, but it seems fitting now:

WTF?