It says much about how shakey this financial mess is....

I wonder if all the Republicans will fit in the jails after it is all
over....

TMT

Report: JPMorgan could up Bear offer

JPMorgan Chase & Co. was discussing a deal that would increase
fivefold its offer for Bear Stearns Cos. to $10 a share, The New York
Times reported Monday.

The talks Sunday were an attempt to satisfy Bear Stearns stockholders
upset over JPMorgan's offer of $2 a share for the struggling
investment bank, the newspaper said on its Web site, citing people
involved in the negotiations.

The original price for Bear Stearns was part of a deal struck last
week at the urging of the Federal Reserve and Treasury Department.

The Fed, which would need to approve any change in the agreement, was
balking at the new price, the Times said. Such opposition could
postpone the new agreement or derail it entirely.

In an attempt to speed majority shareholder approval, Bears board was
trying to authorize the sale of 39.5 percent of the firm to JPMorgan,
the Times said. State law in Delaware, where the companies are
incorporated, allows a company to sell up to 40 percent without
shareholder approval.

A spokeswoman for JPMorgan declined to comment Sunday night, the Times
said. A Bear Stearns representative could not be reached.

A spokesman for the Federal Reserve would not comment on the central
banks involvement in the negotiations, but denied it had directed the
original sale price, the newspaper said.