Bear Stearns – News Stories About Bear Stearns - Page 4

Mar 19, 2008 5:15 PM CDT

Bear Stearns Hires Trauma Counselors

Bank's employees facing loss of savings, jobs after buyout

(Newser) - Bear Stearns will provide grief counseling for employees facing decimated stock holdings, and the possible loss of their jobs, after the bank's sale to JP Morgan, ABC News reports. "Anything that effects human behavior or emotions at work are the areas where we focus," says one such professional....

Crisis Is More
of Confidence Than Credit

ANALYSIS

Mar 19, 2008 11:39 AM CDT

Crisis Is More of Confidence Than Credit

Times scribe connects dots from housing boom to Bear Stearns

(Newser) - The credit crisis that’s roiled financial markets has its genesis in the housing boom that began in 1998, David Leonhardt writes in the New York Times. The boom led lenders to create new financing options—including subprime loans—as investors saw potential for huge returns. Low interest rates encouraged...

Angry Shareholders Want More for Bear Stearns

Mar 19, 2008 7:19 AM CDT

Angry Shareholders Want More for Bear Stearns

Bargain basement $2 price sets up potential battle, lawsuits

(Newser) - Bear Stearns shareholders are threatening to vote against its sale to JPMorgan, saying the $2 price per share for the nation’s fifth largest investment bank is unrealistic; speculators seem to agree, trading up Bear stock to $5.91 yesterday, a 23% bump. Expect some serious brinkmanship to force a...

Economy in 'Sharp Decline,' Paulson Admits

Mar 19, 2008 5:46 AM CDT

Economy in 'Sharp Decline,' Paulson Admits

He won't say recession, but treasury secretary comes close

(Newser) - Hank Paulson came closer than ever to conceding that the economy is in recession in a series of interviews yesterday, Reuters reports. Weary after a weekend in which he helped to broker Bear Stearns' fire sale to JPMorgan, the treasury secretary avoided the R-word but admitted: "There's no doubt...

Bear Stearns Jumps on Hope for Higher JPMorgan Bid

Mar 18, 2008 5:03 PM CDT

Bear Stearns Jumps on Hope for Higher JPMorgan Bid

Likely stockholder holdout drives spike

(Newser) - Bear Stearns shares jumped 23% today on hopes that stockholders will reject JPMorgan's bailout offer in favor of a higher offer, Bloomberg reports. The surge moved the price to nearly three times the current value of the fire-sale bid, which one major stockholder termed "derisory." "There's every...

Lehman Bros.
Q1 Profits Plunge 57%

Earnings Report

Mar 18, 2008 8:18 AM CDT

Lehman Bros. Q1 Profits Plunge 57%

But beleaguered firm still beats forecasts; stock up pre-market

(Newser) - Lehman Brothers, which yesterday lost 19% of its market value, today reported a 57% drop in net income for the first quarter and a 31% drop in net revenue. But those dire figures still beat analyst forecasts, sending the stock up 12% in premarket trading, the Wall Street Journal reports....

Will Lehman Be the Crunch's Next Victim?

Mar 18, 2008 4:52 AM CDT

Will Lehman Be the Crunch's Next Victim?

Shaky confidence means its biggest fear may be fear itself

(Newser) - After a collapse of confidence sank Bear Stearns last week, some traders are betting that Lehman Brothers will be the next victim of the credit crunch. Its stock went on a rollercoaster ride yesterday—plunging 40% at one point and closing down 19%, the biggest fall since the firm went...

Stocks Bounce, End Mixed

MARKETS

Mar 17, 2008 3:50 PM CDT

Stocks Bounce, End Mixed

Stocks are up... no down... what's going on?!

(Newser) - Stocks seesawed throughout the day, finally ending today's session mixed, with the Dow closing up. The markets struggled to rebound from serious losses sustained after Bear Stearns' fire sale; buyer JPMorgan Chase's stock closed up 11%. The Dow ended up 21.16 at 11,972.25, the Nasdaq down 35....

JP Morgan CEO Emerges as Wall Street Force

Mar 17, 2008 12:08 PM CDT

JP Morgan CEO Emerges as Wall Street Force

Dimon builds on rep for staying cool in a crisis

(Newser) - JP Morgan Chase CEO James Dimon is a hands-on boss who writes out a detailed to-do list each morning and has managed to keep his company healthy while many of its rivals are ailing or even critically ill, reports the Wall Street Journal. Dimon's focus has been on creating a...

Bernanke Looks Impotent as
Fed's Fixes Fail

Mar 17, 2008 11:11 AM CDT

Bernanke Looks Impotent as Fed's Fixes Fail

Economic woes may be beyond cure by monetary medicine

(Newser) - Ben Bernanke has employed virtually every tool in the Federal Reserve's kit to calm markets panicked by the credit crisis, but hasn't scored any more than temporary rallies, Bloomberg reports in a look at the markets' fading faith in the Fed chief—and the Fed itself. "The Fed has...

Stocks Rebound, Countering Selloff in Financials

Market Update

Mar 17, 2008 10:17 AM CDT

Stocks Rebound, Countering Selloff in Financials

Bear Stearns buyout sends JP Morgan up, Lehman Brothers down

(Newser) - Stocks steadied after steep early morning losses today, with the Dow actually rising 1.06 points by mid-morning, the Wall Street Journal reports. But financials were still down big, as the Bear Stearns fire sale loomed large over the market. Lehman Brothers, down 22%, was hit the worst, other than...

Investors Ask: Who's Next?

Mar 17, 2008 6:54 AM CDT

Investors Ask: Who's Next?

Wall Street survived the near-collapse of Bear Stearns, but there's more trouble ahead

(Newser) - Wall Street, reeling over JP Morgan’s bargain-basement purchase of Bear Stearns, is anxiously watching to see “who’s next” to succumb to the continuing credit squeeze, reports the Financial Times. As investment banks prepare to release first quarter results this week—led by Goldman Sachs and Lehman Brothers...

Dollar Nosedives,
Global Markets Tumble

UPDATED

Mar 17, 2008 3:55 AM CDT

Dollar Nosedives, Global Markets Tumble

Greenback falls to record lows after Bear buyout, rate cut

(Newser) - The dollar took a pummeling and equity markets in Europe and Asia slumped as worried investors reacted to the Bear Stearns fire sale and the Fed's emergency rate cut. The dollar dropped to a shocking 95 yen, hit an all-time low of $1.59 against the euro, and remained below...

JP Morgan Buys Bear
Stearns for $2 a Share

Mar 16, 2008 6:35 PM CDT

JP Morgan Buys Bear Stearns for $2 a Share

Deal rushed today to avoid filing for bankruptcy

(Newser) - JP Morgan has agreed tonight to buy Bear Stearns for a scant $2 a share, a bargain-basement price—stock closed at $30 a share—that demonstrates the urgency of staving off the collapse of the venerable investment bank and widespread panic in financial markets, the AP reports. The Bush administration...

Gov't Will Do 'What It Takes' for Economy: Paulson

Mar 16, 2008 4:55 PM CDT

Gov't Will Do 'What It Takes' for Economy: Paulson

Treasury secretary backs Reserve's move to uphold Bear Stearns

(Newser) - Treasury Secretary Henry Paulson vowed today to do “what it takes” to uphold a weak economy, the AP reports. “No one is debating the fact that this economy has slowed way down,” he said on the Sunday show circuit. "We feel it, we know it, the...

Bernanke
Tosses Out
His Rule Book

Mar 16, 2008 9:19 AM CDT

Bernanke Tosses Out His Rule Book

As Wall Streets meltdown accelerates, the Fed chief adapts on the fly

(Newser) - With a recession and worsening meltdown on Wall Street looming, Fed chief Ben Bernanke has dumped textbook central bank economic policy, reports the New York Times. Last week's bailout of Bear Stearns, for example, seemed to fly in the face of his previous reluctance to rescue big institutions. And it...

Wounded Bear Scrambles
for a Savior

Mar 15, 2008 3:38 PM CDT

Wounded Bear Scrambles for a Savior

Stearns hopes to find a quick buyer in troubled times

(Newser) - What's next for Bear Stearns? A Wall Street institution for the better part of a century, it is now scrambling to find a buyer. Its best hope is JP Morgan, which provided a temporary lifeline yesterday along with the Fed. But other possible suitors include Citibank and HSBC, the Wall ...

Bear Bailout Invites the Bears

MARKETS

Mar 14, 2008 3:40 PM CDT

Bear Bailout Invites the Bears

Financial sell-off follows Fed's move, sends markets plummeting

(Newser) - News of the Bear Stearns bailout triggered a sell-off today as investors were reminded that the true depth and breadth of current credit problems remains uncertain, the Wall Street Journal reports. Bear Stearns stock closed at 30, down a breathtaking 47.4% on the day. The Dow fell 194.65...

JP Morgan, Feds
Bail Out Bear Stearns

Mar 14, 2008 9:25 AM CDT

JP Morgan, Feds Bail Out Bear Stearns

The investment bank's liquidity crisis forces it to ask for emergency help

(Newser) - Bear Sterns has reached out to rival JP Morgan Chase and the Federal Reserve Bank of New York for emergency funding to reassure investors concerned about the struggling investment bank's deteriorating liquidity, the Wall Street Journal reports. The move is a startling indicator of how hard the subprime virus has...

Home-Equity Loans Latest to Bite Banks

Mar 12, 2008 12:03 PM CDT

Home-Equity Loans Latest to Bite Banks

Even lenders that dodged subprime chaos suffering big trickle-down losses

(Newser) - Home-equity loan defaults are soaring, the Wall Street Journal reports, as the trickle-down effect of the subprime mortgage crisis makes its way into what was once a source of big profits for lenders. JP Morgan Chase and Wells Fargo both escaped major writedowns on subprime mortgages gone bad, but already...