An Insider's Look at the Bear Stearns Take-Over

I wish I knew more about economics, but I caught the first half of Charlie Rose's interview with JP Morgan's CEO Jamie Dimon last night. He gave a first hand account of how the take-over went down. It was kind of high drama. Essentially Dimon was called late on a thursday night by his friends over at Bear Stearns and was told that they were about to go bust - and a JP Morgan takeover was the only solution ... so he spent the next days continually on the phone w/ the Fed and Bernanke and Paulson and his staff figuring out how they could afford to buy Bear Stearns and avert a total Wall Street meltdown. It ended up going through - and in the knick of time. Pretty intense drama.