Out of desperation, Jaime Diamon ups the ante for Bear Stearns personnel

It wasn't supposed to happen this way. Jaime Diamon the Fed's & the US Treasury's knight in shining armour was supposed to ride into a king's ransom by buying Bear Stearns for us$2 a share. He & his Gang of 4 godfathers in government and the Fed didn't count on the hostile reaction by world markets and Bear's employees for being conquered so brutally and sacked by the Huns who descended on Rome in the 6 century of our era. So, first he jacked up shares to us$10, which floated the value of Bear Stearns to well over a us$1 billion yet still a far cry from which it is really worth. Now to keep the flower of Bear's employees who make money in trading and asset management, Diamon is now promising a bonus of yes us$500m if you bring in at least us$500m in new business! On one hand, he's trying to stop the fleeing of key personnel he thought he would pick up for a song, as they might bolt to his competitors. On the other, it is a sign of complete desperation! No one in these money making areas of Bear will lose jobs, but will benefit from fat pay packets and more, prestige for the privilege of working for the house JP Morgan built. But he isn't counting on Bear pride nor the rough and tumble culture which has put these very men and women to make Bear profitable. Instead of a shoo in, Diamon is finding he has to cough up more than he wanted, woo people he had contempt for, and handle irate stock holders whom he and the US government impoverished with on bloody Sunday 16 March 2006. Diamon is not known for a cool temper...his is more volitile and Mediterrean, but like it or not he's going to swallow his pride if he wants Bear.