Commercial Insurance Knowledge (Free subscription) | 4 hours ago
March 16: The Fed provides a $29 billion loan to JPMorgan Chase & Co. as part of its purchase of investment bank Bear Stearns. Bookmark To:
My Wealth Builder (Free subscription) | 12 hours ago
In my opinion, there haven't been enough firings of executives. With the exception of Bear Stearns, Merrill Lynch and Citigroup, there doesn't seem to be many government or business executives being fired. In my company, people have been fired for much less than losing $20 billion in one year. Or in the case of the government, losing a couple trillion dollars. Here are a few people that I wonder why...
Mangan's (Free subscription) | yesterday
Lots of investors have lost money this year, including this writer, and selecting a single investor as uniquely stupid might seem a difficult task. British currency trader Joe Lewis, for example, lost about $1 billion on his investment in Bear Stearns . Devastating, to be sure, but still that can be chalked up to an honest mistake. Lewis is hardly the only one to have been wrong in this financial crisis....
Grasping Reality with Both Hands (Free subscription) | yesterday
Their conclusion now seems completely wrong: > Diamond and Kashyap on the Recent Financial Upheavals: Why did the Treasury and Fed let Lehman fail...? > In March, Bear Stearns lost its access to credit in almost the same fashion as Lehman; yet Bear was rescued and Lehman was not. Bear Stearns was bailed out... [because] the Fed had very imperfect information about what was going on at Bear... [and]...
Law Blog - WSJ.com (Free subscription) | yesterday
The SEC's inspector general said the agency failed to "vigorously" enforce securities law when it closed an investigation into how Bear Stearns came up with values for certain debt.
Courting Destiny (Free subscription) | yesterday
What a week. I open the paper and expect to read: world ended. I put my apartment on the market and went to North Myrtle the week Bear Stearns imploded. I came home to Lehman. I have been losing money all year but never grasped that the two ...
The Curious Capitalist (Free subscription) | yesterday
Peter Fisher used to run the open market desk at the New York Fed. Then he was Under Secretary of the Treasury during the Paul O'Neill years. Now he's co-head of fixed income at BlackRock, the firm that's managing those $29 billion in Bear Stearns assets the Fed took on back in March. So you could say he's kinda plugged in. Here's what he said in a Business Week interview with Maria Bartiromo (it was...
CFO (Free subscription) | 10/10/2008
The business insurance group's finance chief foresaw the need to add liquidity just as Bear Stearns was starting to tank.
Seeking Alpha (Free subscription) | 10/10/2008
Felix Salmon submits: This is the Age of the Bailout. And everybody knows how bailouts work: The government steps in and makes whole any holders of fixed income instruments, be they bonds or deposits or even subordinated debt. That's what happened with Bear Stearns, after all: anybody who wrote credit protection on Bear while it was spiralling into insolvency wound up making a fortune. Except, the...
Hub Blog (Free subscription) | 10/10/2008
Plan B? By my count, we're at Plan H or I. There's been the August 2007 money pump, the winter Bear Stearns bailout, the Fannie Mae and Freddie Mac takeovers, the AIG nationalization, money-market insurance, the $700 billion asset purchases, debt guarantees, the latest capital-injection proposal etc. Assuming yours truly missed something and we're now at Plan I, Plan J comes this weekend. ... Lot...
Seeking Alpha (Free subscription) | 10/10/2008
Cate Long submits: Deep in the shadows of all the extreme events that have happened in the financial markets since Bear Stearns passed away is a quiet presence… the ghost of America’s most powerful banker… John Pierpont Morgan… oh how slowly the shades of great men pass on… From the WSJ.com : Complete Story »
Global Dashboard (Free subscription) | 10/10/2008
Nouriel Roubini summarises how successively larger and larger bailouts seem to be having less and less effect: - When Bear Stearns’ creditors were bailed out to the tune of $30 bn in March, the rally in equity, money and credit markets lasted eight weeks; - when in July the U.S. Treasury announced legislation to bail out the [...]
Rock Netroots (Free subscription) | 10/10/2008
If there's one thing about Republicans and their supporters is, they tend to heap all the blame for the Wall Street collapse on Fannie/Freddie because it’s all they’ve got. But AIG, Lehman Bros., Bear Stearns and the rest of the free-market bunch certainly can’t be blamed when their greed got the best of them - they are the ones who took a chance when they purchased bundles of mortgages and ……lost....
Seeking Alpha (Free subscription) | 09/10/2008
Stephanie Grimmett submits: Think back to those halcyon days of summer, when we thought Bear Stearns was going to be the worst thing to happen in the credit crisis, before Fannie (NYSE:FNM) and Freddie (NYSE:FRE) moved back in with dad, before "Lehman" became a word whispered in the hushed tones reserved for the dear departed, back when our biggest concern was oil prices. Five-dollar gas doesn’t seem...
Sox First (Free subscription) | 09/10/2008
Federal prosecutors, who are already prosecuting Bear Stearns hedge fund managers, have expanded their probe and there is a string of other fraud investigations under way. No surprises then that a consultant who advises white collar criminals is now expecting many more will be going to jail. Watch this space! See full article . Related Entries: Auditors and white collar crime: advice from an expert...
