There Will Be Blood

Here, have a dollar
In fact, no, brotherman, here have two
Two dollars means a snack for me
But it means a big deal to you

- Mr Wendle, Arrested Development

I almost fainted when I heard that JPMorgan is paying $2 per share for Bear Stearns. I had to check online to make sure that the announcer on TV was referring to BSC.

If you bought Bear Stearns on the cheap on Friday, chances are you'll not be sleeping soundly tonight.

Heck, tonight is going to be one of the longest night for a lot of traders. Tomorrow we face the possibility of a full blown melt-down. I sure hope NYSE, AMEX and NASDAQ have their systems ready for tomorrow's action.

$100 says Countrywide closes at less than $1 tomorrow. By weeks end, Bank of America should pull out of the deal or reduce their offer to a couple of dimes per share.

Could the last person that leaves Wall Street tomorrow please turn off the lights?