03-17-2008, 08:31 AM
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Join Date: May 2004
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Posts: 2,958
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
Quote:
Originally Posted by IbnMardhiyah
This is freaking unbelievable.
One of the world's largest investment banks has collapsed, taking its place along other major collapses in banking history such as the Barings collapse. They've lost over 98 percent of their value from what it was barely two and half weeks ago, as everyone began making a run on the bank, taking out $17 billion.
JP Morgan, one of BearStearns longtime rivals, bought out the ENTIRE FREAKING bank for about $240M, that`s barely $2/share, shares that were once worth nearly $170 each!! Their 45-story HQ building alone is worth over a billion.
I told my mom about it today morning before I left for work and she laughed and said alhamdulillaah. 
JPMorgan to buy Bear Stearns for $2 a share - U.S. business - MSNBC.com
Bloomberg.com: Worldwide
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That's what fear does. The value of the USD (and CAD) is also decreasing at a very fast rate due to fear, so better find a hedge against it otherwise the real value of all the money you earn is being eaten away (especially for Muslims who don't take interest).
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So what if the enamored one is insane in the love of Allah? Look and you shall find the whole world His admirer.
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