Last Wednesday evening, I was chatting with an investment banker neighbor about the financial markets travail. He wondered aloud about the future of Bear Stearns: “What’s the point, what are they offering that their stronger competitors can do much better?” He said he didn’t see them surviving. And he mentioned some other high profile names that he thought weren’t too secure either.

In fact, by Friday Bear was on life support and only because of an unprecedented Fed move to shore up some of their bad securities, akin to hooking up a feeding tube and respirator to someone without insurance to pay at the emergency room. And in fact Bear’s days are numbered with Sunday’s announcement of a JP Morgan takeover. Jamie Dimon, a proven M&A surgeon, will take the parts and people that may add some value and amputate the rest.   

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