Fun story from New York about homeowners (and former homeowners and people whose dreams of possibly owning a home are shot to hell...) who were protesting at Bear Stearns HQ. Evidently they felt that if the US government could guarantee up to $29 billion of Bear Stearns assets they could find some money to help the thousands of Americans about to lose their homes.
I love this insightful comment from shouted by one angry Bear Stearns employee: "Homeowners, that's more than $1 trillion (in mortgage debt), you're crazy."
Billions to save what's left of Bear Stearns for JP Morgan makes sense though.
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