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Bear Stearns Essay Topics & Paper Examples

Bear Stearns Collapse Timeline

This week five years ago, JP Morgan announced it would buy Wall Street rival Bear Stearns in a deal worth $2 a share – this ultimately rose to $10. Here, Financial News looks at the events in the run-up to the fall of the 85-year old independent investment bank. Financial News compiled the timeline from press releases, contemporary media reports and William D Cohan’s account of the collapse of the bank, ‘House of Cards’. May 21, 2007 After months of growing instability in the US sub-prime mortgage market, Bear Stearns chairman Alan ‘Ace’ Greenberg offers reassurances that the firm, heavily exposed to the market, is on top of things. “The sub-prime (issue) has been blown completely out of proportion,” he…