Bear Stearns: The Fed's Original 'Systemic Risk' Sin - WSJ.com

One year ago.Bear Stearns: The Fed's Original 'Systemic Risk' Sin - WSJ.com: "...the Federal Reserve saved Bear Stearns from bankruptcy. The central bank's agreement to invest $30 billion (later reduced to $29 billion) in Bear's opaque securities greased a sale of the firm to J.P. Morgan Chase. For the first time since the 1930s, the federal government was putting taxpayers at risk to rescue a