The Federal Reserve Bank of New York has completed financing arrangements to facilitate J.P. Morgan Chase & Co.’s acquisition of Bear Stearns Companies Inc.The New York Fed has extended a $28.82 billion loan, and J.P. Morgan Chase has extended a $1.15 billion loan, to a Delaware limited liability company. The LLC, which will be consolidated […]
The U.S. government’s bailout of the investment bank introduces a new take on the notion of “too big to fail”
Revised terms hike price to US$10 a share
Ratings agency to upgrade debt ratings of Bear Stearns following takeover
Ailing investment bank sold for US$2 a share
There’s more pain to come for financial firms, as signaled by the bailout of Bear Stearns Companies Inc., says Sherry Cooper, chief economist at BMO Capital Markets.“The announcement this morning of the Bear Stearns bailout by the Federal Reserve through J.P. Morgan Chase has sent reverberations throughout all markets worldwide, not only because this is […]
Financial performance in 2008 will be “particularly challenged”
Investment bank admits liquidity has "significantly deteriorated"
Firm says strong loonie and struggling economy good for bonds
Bear Stearns Companies Inc. today named Alan Schwartz to succeed James Cayne as CEO.While Cayne will retire from the firm, effective immediately, he will stay on as chairman of the board of directors of the Wall Street investment bank.Schwartz joined Bear Stearns in 1976. He became executive vp and head of the Investment Banking Division […]