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Bear Stearns

Bear Stearns

Bear Stearns gets emergency funds

US bank Bear Stearns gets emergency funding, raising fears that one of Wall Street's biggest names may collapse.
Ref. https://news.bbc.co.uk/1/hi/business/7296678.stm

Stearns Bear

A bank that has a lot of mortgages is in trouble. I think the recession is going to put a big correction into the US economy. I am glad that my job is secure.

Bear Stearns History & Civil Business Politics

I find it amazing and scary that in 24 hours a bank can go to the brink of not being able to fund its daily business obligations. It seems as if we could wake up tomorrow or the next day and our whole way of life is not going to be the same.

I am glad KNtoran that you have a secure job. At this moment we do not and it is a scary feeling. We have been counseled to put food away and such for times like this and add to it when we can.

Stearns Bear

Fed Bailout of Bear Stearns First of its Kind Since Great Depression

The nation¹s fifth largest investment bank Bear Stearns nearly collapsed last week. It was saved only after the Federal Reserve took extraordinary measures to help JPMorgan purchase the eighty-five-year-old firm. The Fed has become the lender of last resort for other investment banks in a move that marks one of the broadest expansions of the Fed¹s lending authority since the 1930s. We speak with Nomi Prins, an author and former investment banker at Bear Stearns, and Max Fraad Wolff, an economist and writer.
Ref. https://www.democracynow.org/2008/3/20/fed_...r_stearns_first

Stearns Bear

Bear Stearns Chairman Sells Stake for $63M

Cayne sold 5.66 million shares for exactly $10.84 a share for $61.3 million. However, it was not known if those shares were dumped into the open market or if Cayne sold them to another party. A spokesman for Bear Stearns would not comment on the sale. JPMorgan has offered about $10 per share in its acquisition of Bear Stearns. That was increased from the original offer of $2 per share amid speculation that major shareholders would not accept the deal on those terms.
Ref. https://abcnews.go.com/Business/MarketTalk/...tory?id=4538856

Bear Stearns

What I don't get is this... how can Bear Stearns go from needing a bail out to announcing a profit during the last quarter of this year!

Bear Stearns

I have no idea JB the banking industry is such a mystery at time I do not know what to think of it. I do however think that there is going to be some shake ups in the leading banks and who is going to emerge on top. The next couple years I thnk are going to be real hard of the banking industry. With the mortgage issues and now the recession hitting us.

I believe if your job is secure or not that one needs to always plan for a time that food or other things are scarce. I am a firm believer in planning for a rainy day.