Robert Novak, one of my favorite political commentators reveals the inside scoop on who made the decision to bail out Bear Sterns and why there is cause for concern. He says the decision was “approved in private by unelected officials” and reports that “a Fed official conceded privately this week that “we may have crossed [...]

Jim Cramer on Bear Sterns: Kramer goes crazy (from Seinfeld):

Bear Sterns is sold for $2/share. What a collapse – consider that in January 2007 its shares sold for $171.52. Am I being paranoid here? Greenspan says this could be the worst financial crisis since WWII, the President is huddling with the big dogs today to discuss the financial crisis and in a rare weekend [...]