By Mike Tressa
The Bear Stearns buyout by JP Morgan Chase & Co. may only be the start of continuous economic downturn. The Federal Reserve's loan of $30 billion to Morgan is an unprecedented move depicting the hard times.
JP Morgan bought all of Bear Stearns for roughly $2 a share, one-tenth of the market price before the company went under, according to the New York Times.
Investors and consumers in the Central New York region are advised to weather the storm. The financial market is in a dive toward recession according to Tom Barkley of the Whitman School of Management at Syracuse.
Things do not look to get better in the current term. According to Barkley in the Post Standard, investors are advised to keep money where it is as the market tends to swing back and forth.
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