I think you will find JP morgan changing the bid price is more about avoiding law suits from p1ssed off bear shareholders who think that there may be something to salvage. The way the $2 deal was structured the fed basically offered to take on all the risk while JP morgan got to scoop up the decent assets at no risk, no wonder bear shareholders are p1ssed. Payback for Long Term Capital Management.
us expert says bear stearns worth nothing, page-11
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