JP Morgan: We’ll Use Our Bailout Money to Fund Acquisitions

By Patrick | Published: October 26, 2008

This article over at the NY Times highlights why the massive federal bailout isn’t going to do much.

http://www.nytimes.com/2008/10/25/business/25nocera.html

This “relief” that is soooooooo neccessary will provide strategic capital to fund acquisitions? Are you shitting me? I thought that the money was to take care of toxic assets and provide capital to lend. You know, so we can free up that credit market a little.

Instead it looks like it’s going to get used to finance the Jamie Dimon bank consolidation plan. Nice.

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