The Bear Stearns bailout!
Bear Stearns, fifth-biggest US investment bank, is paying a heavy price for its financial mess. The bank`s accumulating losses from mortgage-backed securities sparked fears on the Street that it was on the verge of collapse. In order to avoid bankruptcy, Bear Stearns` CEO, Alan Schwartz, was forced to accept the government-backed buyout deal from JP Morgan Chase.
Images: AP
image captionKi Byung, an operations analyst with Bear Stearns, takes a break outside the company`s headquarters in New York.
blog comments powered by Disqus