Here Today, Gone Tomorrow

Bear Stearns, the fifth largest investment bank in the United States, had $17 billion in cash and salable assets on March 11. At the close of trading on Friday, March 14, the eighty-five year-old firm had an exchange-listed market capitalization of just $4 billion. Over the ensuing weekend, one of its competitors, JP Morgan Chase & Co., agreed to buy Bear Stearns in a paper transaction backed by financing from the New York Federal Reserve Bank, for just under $240 million.

• • •

Who Loves Ya, Baby?

The true origins of celebrating the notion of romantic love on February 14 are not well documented, though the exchange of elaborate, handmade gifts between paramours was well established by the middle of the eighteenth century in England, and began to really take off in the United States once Esther Howland (herself now considered something of a saint by the American Greeting Card Association) began selling mass-produced Valentine’s cards in the 1840s.

• • •

The Pen And The Sword

Amid rapidly escalating violence between Israel and its tormentors in the Middle East, diminishing traction of the ersatz governments in Iraq and Afghanistan, and a renewed curiosity toward his behavioral motivations, George W. Bush exercised his constitutional power to veto legislation this week — for the first time in an improbable six-year run as President of the United States.

• • •