More Questions About JPMorgan/Bear Stearns Deal

A recent SEC filing from JPMorgan Chase raises more questions about the government's role in JPMorgan's pending acquisition of Bear Stearns. Steven Davidoff does an excellent job of pointing all this out in a New York Times DealBook piece. For example, he asks why the New York Fed agreed to give Bear Stearns a secured lending facility on Friday, March 14, then suddenly changed it's mind and backed out of the agreement by the end of the day. The SEC filing also notes that JPMorgan indicated a willingness to pay $8-$12 per share for Bear Stearns, but eventually offered only $2 per share following discussions with government officials. Take a look at Anatomy of a Merger for more questions prompted by the SEC filing. I thank Gary Lutin for bringing Davidoff's piece to my attention.