It’s a sad day but we’ll get through it, and we may be better off for it… The company that is taking us over, or is merging with us, is a first-class company… That which doesn’t kill you makes you stronger. By now we all must be Hercules… We ran into a hurricane… There’s no anger; there’s simply remorse.
Alan Schwartz, Bear Stearns CEO- Jimmy Cayne speaking at the shareholder meeting which finalised and formalised - the takeover of Bear Stearns by JP Morgan moments ago. The deal is due to close tomorrow.
