PicturesBear Stearns Pictures
Main
Big photo
by kharkoma
Wikipedia: The Bear Stearns Companies, Inc. (former New York Stock Exchange ticker symbol BSC) based in New York City, was once known for its top risk management talent and 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, wealth management 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.
|
|
|
|
by robnaldo |
by 
ny-pictures.cc is a free service of Ontology2 © copyright 2009.
Images on this site are licensed under various Creative Commons licenses; Image
descriptions and metadata are CC-BY-SA. This site contains information from Freebase, Dbpedia and other sources.
Maps are supplied by OpenStreetMap.
Questions? Comments? Contact the the management.