US bank Bear Stearns on the verge of collapse?
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- graemesmith
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Things really have gotten bad, and Bear Stearns appears to be the latest victim of the credit crunch.
Bear Stearns, one of the biggest banks in the US, is to receive emergency funding and, according to some reports, could collapse.
Bear Stearns, one of the biggest banks in the US, is to receive emergency funding and, according to some reports, could collapse.
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Tori
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It looks like the Fed and rival bank JP Morgan Chase were able to pump money into Bear Stearns to avoid the collapse, but clearly, the economy is going through a major shake-up.
News of the emergency funding sent Bear Stearns' stock plummeting, and the company lost half of its value in a matter of minutes.
So is the question now 'who's next?', or was the recovery pulled off by JP Morgan Chase and the Fed enough to ease fears?
- 5 years ago
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Tori
