As I watch on TV about the bank called Bear Stearns,
which I never heard of before, being sold for $2 a share,
I have got to wonder ...1. who are they? Do we know them
by another name. ... and 2. how does this effect the rest
of the country, as it is being bought by another bank company?
Also heard where one man lost billions in stock over this.
Billions? Why would anyone put that kind of money in,
to have billions worth of stock? I know, I know, investment.
But doesn't the 101 of stock buying suggest, that one not
put all of their eggs in one basket. Drop the basket and
all the eggs break.
My grandfather who did have money in the stock market,
and some how came out of the 1929 crash ok, told me
50 years ago.... that if you can't take your money and
flush it down the toilet without blinking,... then you should
NOT be playing the stock market.
Guess that principal still holds true.
When the Plunger Doesn't Work . . . .
20 hours ago
2 comments:
Unless you are in the mortgage business or investment business it's likely you'd not be familiar with Bear Sterns. They are an investment bank which basically is in the business of buying and selling securities or in this case mortgages.
They rarely deal with individuals such as you and I unless extremely wealthy - and then rarely and dependent on circumstances.
Your savings and checking in your local bank are quite safe.
This isn't as clear as it could be but maybe helps...
I thought people learned their lessons a few years back with Exxon..guess not. I just pray my retirement acct. hangs in there until I retire, which isn't for seven more years...yesterday +420 today -37 at midday...drives me nuts...I can barely stand to look at the daily stock market results...so I don't.
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