It’s A Bear Market Out There Bear Stearns' Subprime Bath Poem by Joe Rosochacki

Yes, there is a bear market out there,
At times to have someone pull their hair,
All this was about greed,
More money, regardless of consequences, was the seed.
That made people homeless with despair.

But what is the government doing in this,
Are we in a free market or is there something I missed,
Indentured financial slavery by the economic rope,
For financial freedom beyond, this offers the loaners little hope,
The banks are your friends with Judas kiss.

The Bear Stearns should go out of business,
Like others ventured that wound up a mess,
The US taxpayers shall flip the bill,
JPMorgan Chase will infuse the bloodline with cash and will,
Gain control of the bank, not bad, an international bank for about 50% less.
(see Observation Let the Dominoes Cascade Down into the Abyss)

Fannie and Freddie are non-solvent because of the current economic situation,
What about “free markets” apparently lost in this conversation,
The answer is Bail outs, the American tax payer will pay,
For the disorder that the sub-prime loans of yesterday,
For us all the economic mood is a cautious perception.
What we face is delirious

The huge potential liabilities facing each company, as a result of soaring mortgage defaults, could cost taxpayers tens of billions of dollars, but Paulson stressed that the financial impacts if the two companies had been allowed to fail would be far more serious.
(9-6-08)