PLEDGE NOW
Bear Stearns and Wall Street's Crisis
photo

The language out of Wall Street today is enough to scare you silly. Crisis. Fire sale. Brink of collapse. Titanic mess.

Late last night the news spread that JPMorgan Chase and the Fed have engineered a takeover of floundering Wall Street bad boy Bear Stearns.

A year ago, when the bonuses and bull were flying high, Bear Stearns was worth $20 billion dollars. Yesterday, JPMorgan bought it for $200 million and change. Two bucks a share.

Where this all unwinds, nobody knows. But it’s not over yet.

This hour, On Point: the crisis on Wall Street and where it goes.

Guests:

Dennis Berman, global deals editor for The Wall Street Journal.

Peter Coy, economics editor for BusinessWeek magazine.

Douglas Elmendorf, senior fellow at the Brookings Institution, economist at the Federal Reserve from 2001-2006 and deputy assistant for economic policy at the Treasury Department from 1999 -2001.

Gillian Tett, capital markets editor for the Financial Times.

Bill Fleckenstein, president of Fleckenstein Capital, which manages a hedge fund based in Seattle, and author of the new book “Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve.”

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
May 29, 2015
Residents are evacuated by members of the Houston Fire Department from floodwaters surrounding their homes in Houston, Tuesday, May 26, 2015. Heavy rain overnight caused flooding and closure of sections of highways in the Houston area. (AP)

Texas floods. Soccer scandal. Nebraska outlaws the death penalty. Identity theft at the IRS. Our weekly news roundtable goes behind the headlines.

May 29, 2015
In this March 24, 2002 file photo, John Nash, left, and his wife Alicia, arrive at the 74th annual Academy Awards, in Los Angeles. Nash, the Nobel Prize-winning mathematician whose struggle with schizophrenia was chronicled in the 2001 movie "A Beautiful Mind,” died in a car crash along with his wife in New Jersey on Saturday, May 23, 2015, police said. (AP)

Remembering a beautiful mind: Nobel –prize winning game theorist John Nash . We’ll look at his game theory. His schizophrenia. His genius.

RECENT
SHOWS
May 29, 2015
In this March 24, 2002 file photo, John Nash, left, and his wife Alicia, arrive at the 74th annual Academy Awards, in Los Angeles. Nash, the Nobel Prize-winning mathematician whose struggle with schizophrenia was chronicled in the 2001 movie "A Beautiful Mind,” died in a car crash along with his wife in New Jersey on Saturday, May 23, 2015, police said. (AP)

Remembering a beautiful mind: Nobel –prize winning game theorist John Nash . We’ll look at his game theory. His schizophrenia. His genius.

 
May 29, 2015
Residents are evacuated by members of the Houston Fire Department from floodwaters surrounding their homes in Houston, Tuesday, May 26, 2015. Heavy rain overnight caused flooding and closure of sections of highways in the Houston area. (AP)

Texas floods. Soccer scandal. Nebraska outlaws the death penalty. Identity theft at the IRS. Our weekly news roundtable goes behind the headlines.

On Point Blog
On Point Blog
Our Week In The Web: May 30, 2015
Friday, May 29, 2015

FIFAs gotta FIF, and other highlights from the soccer-filled week of news. Plus, we discuss how none of you really seemed all that concerned about a last-minute topic change.

More »
2 Comments
 
A Former Bike Gang Member Explains "The Life"
Tuesday, May 19, 2015

Larry called in from Lawrenceburg, KY and told us he was once a member of the Pagan’s Motorcycle Club, a mid-Atlantic biker gang. He didn’t sugar coat the facts as he explained the draw of the brotherhood and what makes the outlaw motorcycle corner the underworld go round.

More »
2 Comments
 
Our Week In The Web: May 15, 2015
Friday, May 15, 2015

We cancel a few hours and suddenly all of you get convinced of a global radio conspiracy! Plus, dragon zoos.

More »
2 Comments