Thursday, April 3, 2008

Differences in perspective

Asked about the adequacy of the price paid to Bear Stearns, [Bear Stearns CEO] Mr. Schwartz said he had no alternative.

“All the leverage went out the window when we were told we had to have a deal done by the end of the weekend,” he said.

James Dimon, the chairman and chief executive of JPMorgan Chase, offered a slightly different view on the question.

“Buying a house,” he said, “is not the same as buying a house on fire.”
--Stephen Labaton, NYT, on the view on fire sales from both sides

1 comment:

Ray C. said...

Overheard leaving the theater after watching the movie "21", from two blonde girls: "Oh so is MIT the undergrad for Harvard?"