“It’s worth what I say it’s worth”: Part 1, neither more nor less
“It’s worth what I say it’s worth.”
The louder I shout it, the truer it must be!
That, more or less, is the defense offer by Bear Stearns as to the value of enormous pools of highly structured complex instruments on their books, a declaration so patently self-serving and self-interested that, with Bear now absorbed into JPMorgan [...]
