17 March 2008

Google trend 17 mar 08: Derisory

Meet the Biggest Loser in the Bear Stearns Debacle 'Bear Stearns' second largest shareholder, Joe Lewis, said Monday JPMorgan's $2 a share offer for the investment bank is "derisory."

"I think it's a derisory offer, and I don't think they will get shareholder approval," Lewis said, in an interview with CNBC.

Lewis also discounted rumors that his position in Bear Stearns was leveraged.

The British-born billionaire, who amassed his fortune as a currency trader, is the biggest individual loser in Bear Stearns' debacle. It is estimated that he has lost nearly $1 billion from his decision to pile into Bear Stearns stock in recent months.


Derisory means: "ridiculous". That was all about this word.

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