A discussion about the purchase of Bear Stearns For $2/Share by JP Morgan Chase with Andrew Ross Sorkin of the New York Times. Following a March 14, 2008 announcement that the firm required emergency financing from the Federal Reserve Bank of New York and JPMorgan Chase in order to avoid insolvency, Bear Stearns suffered a precipitous decline in value with its market capitalization dropping by 47%. On March 16, the firm agreed to be acquired by JPMorgan Chase for $236 million (approximately $2 per share, down from Friday, March 14 close of $30 a share).
Charlie wishes to thank all those who have expressed concern for his eye injury, caused by a pot-hole in Manhattan, NYC.
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