Friday, Mar 14, 2008
Denials they in trouble all week now this
Yahoo Biz: JPMorgan Chase, With Federal Reserve Bank of NY, to Provide Funding to Bear Stearns
"The federal government and JPMorgan Chase & Co. teamed up on a bailout of Bear Stearns Cos. on Friday, a last-ditch move to save the investment bank, which acknowledged its dire financial straits after a week of firm denials."
Posted by happyrenterz @ 02:14 PM (361 views) Add Comment
4 Comments
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1. Crutchley said...
45% share price drop so far today.... Welcome to the US Northern Rock
2. cornishman said...
"Bear Stearns, the nation's fifth-largest investment bank, made its fortune dealing in opaque mortgage-backed securities "
er..., just what fortune is that then if they need bailing out?
3. Bobsto said...
Yesterday this bank said everything was ok. They obviously lied outrageously.
There's a lesson here.
Who else is lying?
No wonder gold is shooting up.
4. who stole my pension? said...
Still it won't happen here. Ooopse is already has - Northern Crock!