THE BASIS POINT

Bear Stearns Vandalism, Real Estate Agents’ Mercedes

bear.jpgFirst a joke:
What’s the difference between a pigeon and a realtor?

The pigeon can still leave a deposit on a Mercedes.

And also a picture from the of Bear Stearns’ building in NYC (which is worth $1.2b) to underscore that the 85 year old firm was sold to JP Morgan Chase for $2 per share.