Friday, March 14, 2008

Wow! Look out for the Bear!

Short version: Bear Stearns seems to be in a bunch of trouble. Not only has their liquidity disappeared, but other firms are reluctant to do business with them. This has led the Fed and JP Morgan to at least temporarily bail out the firm.From the NY Times:"The news from Bear Stearns came after the bank had insisted for days that its finances were in adequate shape. But the situation rapidly

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