Bears Eat Bear Stearns

The Big Picture is liveblogging the mauling Bear Stearns is getting this morning. Most of the damage has been done already; share price is currently off 47%. Earlier this week BS (nice acronym, eh?) Chief Executive Alan Schwartz said is well, that there isn't a liquidity problem at BS. Today, JP Morgan has gone to the Fed Discount Window to get money for BS. Lot's of money.