We at Reuters have tried our best to cover the collapse of Bear Stearns in a clear, informative and, yes, even entertaining fashion. But apparently we and our competitors in the financial press are falling short. From The Onion:
JPMorgan Chase Acquires Bear Stearns In Tedious-To-Read News Article
NEW YORK-As a volatile market reacts to news of the Bear Stearns fire-sale deal with a surge in stock prices but reduced bond yield, officers from JPMorgan Chase announced Monday that they were close to finalizing plans to purchase the securities giant in an incredibly complex series of financial maneuvers and obscure legal jargon that can only be described in the most mind-numbingly dense and unreadable way.
Click here to read the full story, which contains some profanity.
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Oh, so THAT’S what happened. That explains alot.
- Posted by Michael Martinson