No Time to Become Complacent: An Emergency Rethinking of Your Advisory and Financing Needs.

We wrote twice last week about the nerve-wracking insanity associated with doing business these days with the large national banks that took to worthless collateralized and securitized debt products like a crackhead takes to his pipe.

And we also warned you about banks that didn't necessarily take to the metaphorical pipe (they simply packaged and sold the so-called "collateralized" crack to the other bank addicts - read Bear Stearns, et. al.), but now - audaciously - these pushers think they can salvage these bankrupt banks. We wrote that this seemed more bravado than brains.

Well, this doesn't happen often, but it looks like we were way ahead of the curve on this one.

Richard Bove is quoted today saying, "While some may think that JPMorgan is getting Bear Stearns at a bargain price, I do not."

Click here to read the entire article...

Also, here is David Weidner's take on the new offer from JP Morgan:

Dimon's Dog