Bear Stearns Drop

Bear Stearns, a major investment bank, was heavily involved in subprime and other 'innovative' mortgage instruments, and has been pursuing various strategies to stave off insolvency since the summer of 2007. The Federal Reserve Bank and JP Morgan Chase have given assistance to Bear Stearns, and on March 16, 2008, Bear Stearns agreed to be purchased by JP Morgan Chase at a price of $2/share. JP Morgan Chase had previously announced that it would secure Bear Stearns' loans for 28 days.

• Topix.net: Bear Stearns Drop

• Google News: Bear Stearns Drop

• WSJ.com: J.P. Morgan Buys Bear in Fire Sale, As Fed Widens Credit to Avert Crisis (March 17, 2008)

• WashingtonPost.com: Fed Takes Broad Action to Avert Financial Crisis (March 16, 2008)

• USA Today: Bear Stearns bailout necessary, Paulson says (March 16, 2008)

• Bloomberg.com: U.S. Stocks Fall, Led by Banks; Bear Stearns Drops Most Ever (March 14, 2008)

• • Forbes.com: Street Slips After Bear Stearns Takes Out A Loan (March 14, 2008)

• WSJ.com: Bear Stearns to Get Backing From J.P. Morgan, N.Y. Fed (March 14, 2008)

• Guardian.co.uk: Bear Stearns shares plummet as it seeks emergency funding (March 14, 2008)

• Telegraph: Bear Stearns shares plunge on bailout (March 14, 2008)

• BBC NEWS: America's Northern Rock (March 14, 2008)

• USATODAY.com: Market falls on word of Bear Stearns bailout (March 14, 2008)

• Seeking Alpha: Bear Stearns Gets Emergency Funding From NY Fed, JP Morgan (March 14, 2008)

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