Shares of Bear Stearns (BSC) took a dive today amid news of a $2 per share buyout offer from JP Morgan and a government bailout. I’m truly upset that the federal government has had to resort to bailing out institutions who made horrible investing decisions and lost billions of dollars. It just really burns me that the American people as a whole are being punished for the stupid investments and lending practices of some of the largest banking institutions in the country which are run by some of the most educated financial minds in the world. Considering this is a field I wish to enter someday I’m appalled at the lack of foresight these professionals possess when immediate profits are stake.

Bear Stears is just the beginning. I’m sure we will see more bank implosions in the coming months and subsequent government bailouts designed to “protect” the American public from further losses and home equity bleeding.

For now I am focusing on companies with strong balance sheets, stable profits during any economic condition and a good dividend. Some of those companies include:

Altria

Burlington Northern Santa Fe

Google

Diageo

Reynolds American

[tags]investing, economy, bear sterns, jp morgan, shaun carter, dow jones, nasdaq, retirement, google, altria, diageo, reynolds american, burlington northern, federal reserve[/tags]