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March 19th, 2008 at 9:59 pm
In that case you should be shorting or buying all the BSC puts you can. Somehow I don’t think its that simple.
March 19th, 2008 at 11:53 pm
Here’s alternate view:
http://oldprof.typepad.com/a_dash_of_insight/2008/03/the-bear-stearn.html
March 21st, 2008 at 9:39 am
I just assumed because the initial bid was so low that the market thought there were possible alternatives out there.