As you know, Bear Stearns lost $17 billion over the course of two days and had to be bailed out by a combination of the Fed and JP Morgan Chase in a deal that came out to just $240 million. True to our consumer culture, the natural thing to do was to try and profit from these events and there's already plenty of Bear related gear up for grabs.
Reuters did an Ebay search for the beaten-up bank and found an assortment of apparel priced at $2 each — that's the same price per share that JP Morgan bought Bear Stearns — and a cafeteria card that already received double digit bids.
This “I invested my life savings in Bear Stearns and all I have left is this lousy T-shirt” shirt can be purchased for a mere $17.99. Do you think these items are kitschy and harmless or insensitive to the 14,000 employees who are facing the loss of their nest egg and employment?