Bear Stearns
Financial Services Company
Bank bailout squandered public funds, trust...have a long-term relationship with the government and with each other, and can pay a price if they act selfishly in times of crisis. Bear Stearns, the investment bank, earned itself a lot of ill will by refusing to participate in that... In this article: American International Group, Wall Street, Bear Stearns, Troubled Asset Relief Program, Unemployment, Financial crisis, Long Term Capital Management, Timothy Geithner, and J.P. Morgan |
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MarketWatch.com - MarketPulse | 19 hours ago
Big payouts for Lehman and Bear Stearns execs: WSJ
NEW YORK (MarketWatch) -- The top executives at Lehman Brothers Holdings Inc. and Bear Stearns Cos. cashed out almost $2.5 billion from their firms between 2000 and 2008, according to a report in Monday's Wall Street Journal. Citing a study...
In this article: Bear Stearns Cos., Inflation, TomTom, Lehman Brothers Holdings Inc., MarketWatch, NEW YORK, and U.S.
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TIME | 3 days ago
Bear Stearns Trial: Verdict a Blow to E-Mail Prosecution
The Bear Stearns Verdict: A Blow to E-Mail Prosecutions By Stephen Gandel Thursday, Nov. 12, 2009 Former Bear Stearns hedge-fund manager Matthew Tannin, center, smiles after being acquitted of fraud charges at U.S. District Court in...
In this article: E mail, Eliot Spitzer, Martha Stewart, Financial crisis, and Securities and Exchange Commission
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ABC News | November 14, 2009
What Saved Bear Stearns' Managers From Jail?
Skipping the Stand May Have Helped Keep Ralph Cioffi and Matthew Tannin Out of Prison Former Bear Stearns Cos. hedge fund managers Ralph Cioffi, left, and Matthew Tannin, right, are... Former Bear Stearns Cos. hedge fund managers Ralph...
In this article: Bear Stearns Cos., Defendant, Cross-examination, Recession, Insider trading, Tannin, and Enron
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Reuters | November 12, 2009
SEC expects to proceed with Bear Stearns case
U.S. securities regulators intend to proceed with their civil case against two former Bear Stearns fund managers who were acquitted of related criminal charges earlier this week. "We filed a case based on the evidence from our...
In this article: U.S. Securities and Exchange Commission, Financial crisis, and Jpmorgan Chase & Co
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UPDATE 3-US SEC expects to proceed with Bear Stearns case
...(Adds attempts to reach Cioffi, Tannin lawyers) U.S. securities regulators intend to proceed with their civil case against two former Bear Stearns fund managers who were acquitted of related criminal charges earlier this week. "We...
In this article: U.S. Securities and Exchange Commission, Financial crisis, and Jpmorgan Chase & Co
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Justice official says Bear Stearns case not a setback
Reuters top ten news stories delivered to your inbox each day. Justice official says Bear Stearns case not a setback WASHINGTON (Reuters) - A top U.S. Justice Department official said on Thursday the acquittal of two former Bear Stearns...
In this article: Thomson Reuters, U.S. Justice Department, Small business, Insider trading, Financial crisis, NYSE, and Nasdaq
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US Justice official: Bear Stearns case not a setback
By Jeremy Pelofsky A top U.S. Justice Department official said on Thursday the acquittal of two former Bear Stearns hedge fund managers on fraud charges was not a setback to pursuing such cases and that prosecutors would continue to do...
In this article: U.S. Justice Department, Insider trading, Financial crisis, and Jpmorgan Chase & Co
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AP Online | November 11, 2009
Setback in Bear Stearns case may force gov't shift
WASHINGTON (AP) - The swift acquittal of two Bear Stearns executives in the government's criminal case tied to the financial meltdown likely will force prosecutors to rethink the evidence they planned to present in a raft of cases that have...
In this article: SEC, Countrywide, Financial crisis, Angelo Mozilo, Bank of America Corp., and Justice Department
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Jury acquits ex-Bear Stearns hedge fund managers
...news stories delivered to your inbox each day. Jury acquits ex-Bear Stearns hedge fund managers NEW YORK (Reuters) - Two former Bear Stearns hedge fund managers were found not guilty of fraud, a decision that could make government...
In this article: Thomson Reuters, Wall Street, NEW YORK, Small business, Insider trading, and Financial crisis
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Jury acquits ex-Bear Stearns hedge fund managers
In this article: Financial crisis, U.S. Securities and Exchange Commission, Wall Street, and New York
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Description from Wikipedia:
The Bear Stearns Companies, Inc. (former New York Stock Exchange ticker symbol BSC) based in New York City, was one of the largest global investment banks and securities trading and brokerage firms prior to its sudden collapse and distress sale to JPMorgan Chase in March 2008. The main business areas, based on 2006 net revenue distributions, were: capital markets (equities, fixed income, investment banking; just under 80%), wealth management (under 10%) and global clearing services (12%).
Bear Stearns pioneered the securitization and asset-backed securities markets, and as investor losses mounted in those markets in 2006 and 2007, the company actually increased its exposure, especially the mortgage-backed assets that were central to the subprime mortgage crisis. In March 2008, the Federal Reserve Bank of New York provided an emergency loan to try to avert a sudden collapse of the company. The company could not be saved, however, and was sold to JPMorgan Chase for as low as ten dollars per share, a price far below the 52-week high of $133.20 per share, traded before the crisis, although not as low as the two dollars per share originally agreed upon by Bear Stearns and JP Morgan Chase.
The collapse of the company was a key prelude event to the risk management meltdown of the Wall Street investment bank industry in September 2008, and the subsequent global financial crisis and recession.
- Name:
- Bear Stearns
- Location:
- New York City, New York USA
- Founded:
- 1923
- Industry:
- Investment services
- Key People:
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- James Cayne, former Chairman & CEO
- Alan Schwartz, former CEO
- Products:
-
- Financial services
- Investment banking
- Investment management
- No. of Employees:
- 13,566 (11/2006)
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