After days of denials that it had liquidity problems, Bear was forced into a JPMorgan-led, government-backed bailout on Friday. The arrangement, the first of its kind since the 1930s, resulted in Bear getting a 28-day loan from JPMorgan with the government’s guarantee that JPMorgan would not suffer any losses on the deal.
The economy is fine, Iraq is fine, your water is fine, you are safe, your air is clean, oil is still cheap.
Now why would they lie to us.