JP Morgan bets big on Bear Stearns

People are still buzzing about JP Morgan Chase's deal to buy Bear Stearns. One thought from Fortune is that the deal could possibly spell the end of Jaime Dimon's career, at least at JP Morgan. Even at $2 a share, Fortune notes that no one really knows what kind of assets they are really buying. It's possible that he overpaid. Interesting thought. Dimon certainly is a canny sort of executive. My guess is that he has solid guarantees from the Fed regarding some additional support, if necessary. But not everyone is ready to call this a win for JP Morgan Chase. Of course, if the troubled securities do not tank, getting the building and the clearing operations at $2 a share will make him the hero.  

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