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Bear Stearns Collapse

Are These Bank Memorabilia Kitschy or Insensitive?

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?

Join The Conversation
SDTransplant SDTransplant 9 years
I also find these items insensitive. I would not be pleased to stumble upon one of these if I was one of those 14,000 employees whose $200K retirement fund had quickly turned into a piddling $2K, especially if I was in my late 50s or 60s and about to retire.
cvandoorn cvandoorn 9 years
princessjaslew princessjaslew 9 years
while its true that sometimes we need a little laughter in our lives to make the hard times seem a little less hard, i feel really bad for those employees. if this was going to a fund to help them, maybe it won't seem so bad...
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