The New York Post reports today that employees in Bear Stearns‘ New York offices bought up various Bear memorabilia, including baseball caps and t-shirts, before they’re gone for good. The investment bank was bought out/bailed out by the Federal Reserve and JPMorgan Chase in March. The bargain prices of some mementos – baseball caps at $8.60 and umbrellas at $7 – were higher than the bargain price of $2 per share, later raised to $10 a share, that JP Morgan offered for Bear Stearns stock. The buyout is expected to be finalized by June 1. The Post reports that JP Morgan will be keeping 45 percent of Bear Stearns staff after the merger. At least those that are leaving are taking some lovely parting gifts.
