I’ll be the first to admit I don’t really understand all the ins and outs of Wall Street, but I did know it was very big news when the large investment banking firm Bear Stearns practically went belly up within a week…and then, with a Fed bailout pending, Bear Stearns was bought out by JPMorgan for a measly $2/share.

If none of this makes sense, you should still check out the Housing Bubble Blog for bits and pieces on this latest financial market news. More financial companies look to be in serious trouble with unheard of billion-dollar losses. Some readers are concerned that the Fed’s response in this situation is mirroring what happened prior to the Great Depression of the 1930s.