Bear Stearns & JP Morgan - Northern Rock

So the Lesley Neilsen finally hits the fan - JP Morgan have bought Bear Stearns just as some argue Lloyds TSB should have been allowed to do with Northern Rock

Just how far this contagion will go remains to be seen, USA in recession is advised the best way out is to spend thier way out of it - UK won't be able to do that, UK Plc as Gordon Ed Balls Up Brown liked to call us don't have any money to spend, nor reserves because he sold all the gold! At least he got a poor price for it!
Who would have thought CMD Call Me Dave got it right - you know, his words to the Prime Minister that in the good times he put nothing aside, and they try to encourage we the public to save, save for a rainy day!