tag:blogger.com,1999:blog-1513679299375736828.post7184170560877694860..comments2024-03-11T01:47:38.754-07:00Comments on The World According to AmericanGoy: Reuters article asks some GOOD questions on Bear StearnsAmericanGoyhttp://www.blogger.com/profile/00865892490752172185noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1513679299375736828.post-34770765955884540492008-03-23T08:26:00.000-07:002008-03-23T08:26:00.000-07:00NEW YORK (Reuters) - The Securities and Exchange C...NEW YORK (Reuters) - The Securities and Exchange Commission is investigating the events leading up to the collapse of Bear Stearns , specifically a surge in options contracts betting that the investment bank's share price would fall sharply, according to the Wall Street Journal.<BR/><BR/>Citing people familiar with the matter, the paper reported the SEC probe focuses on a surge last week in "put" options that came days before the firm's proposed sale to J.P. Morgan Chase & Co. for stock now valued at about $278.5 million, or $2.32 a share.<BR/><BR/>A put option allows the buyer of the option the right to sell a certain number of shares in the company at a specific price within a set time. (Reporting by Edward Tobin; Editing by Derek Caney)<BR/><BR/>Source: <A HREF="http://www.abcnews.go.com/Business/IndustryInfo/wireStory?id=4487405<br/>" REL="nofollow">ABC News</A><BR/><BR/>No, say it ain't so! Someone using insider info to profit on this tragedy? <BR/><BR/>That don't happen here in America, does it?<BR/><BR/>Uhh, wait a minute, that reminds me of those put options someone bet against American Airlines the week before 9/11.<BR/><BR/>But this is America, the land of the free and the ... oh fuck it.Anonymousnoreply@blogger.com