Jamie Dimon's pragmatic move

The New York Times took pains to note that Jamie Dimon, CEO of JP Morgan Chase, seemed determined to stick to the original $2 a share price for Bear Stearns. But the anger proved to be too much. And the ever savvy Dimon, apparently and reluctantly, agreed to raise the price to $10 a share. In some ways, the Times notes, the move might have helped paint the CEO as a pragmatist. But there are plenty of Bear execs who still the deal is a low-ball move. The game is on. And the odds that Dimon will win seem to have increased. But we'll have to see how the big shareholders react.

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