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Fed Reserve Bank of New York and JPMorgan step in to avert Bear Stearns collapse
Summary from multiple countries, from articles in English
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Financial sector turmoil drove investors out of equities and into the havens of gold and government bonds on Friday after US investment bank Bear Stearns said it would receive emergency funding. (article 32)
The credit crisis on Friday engulfed one of Wall Street's most important investment banks as the Federal Reserve and JPMorgan Chase combined to provide emergency finance for 85-year-old Bear Stearns and prevent further upheaval in global markets. (article 24)
Friday's action by the Federal Reserve marks the first time since the 1960s that the US central bank has authorised the provision of emergency finance to any financial institution other than a regulated deposit-taking bank. (article 21)
Analysts speculated that the Fed could be forced to provide emergency finance to other investment banks and possibly even some hedge funds in the weeks ahead. (article 21)
The fifth largest investment bank, Bear Stearns is a big factor in the credit default swaps market, a prime broker to many hedge funds, a primary dealer in the bond market and a counterparty to many leading Wall Street firms. (article 21)
A look back at the key issues for the bank from early signs of problems in the mortgage market last June to the announcement of emergency funding from the NY Fed and JP Morgan. (article 12)
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Other summaries about this story:
Other stories about Bear, Stearns and bank:
Event tracking:
Story keywords
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Bear, Stearns, bank, Fed, mortgage |
Source articles
- Which bank is going to follow the Bear? (business.timesonline.co.uk, 03/15/2008, 592 words)
- Global financial system braced for ripple effect (ft.com, 03/14/2008, 422 words)
- JPMorgan Chase to provide funding to Bear Stearns :: CHICAGO SUN-TIMES :: Business (suntimes.com, 03/12/2008, 693 words)
- Full statements: Bear Stearns intervention (ft.com, 03/14/2008, 380 words)
- Fed Takes Rare Path to Aid Bear Stearns (Washington Post, 03/14/2008, 477 words)
- Fed resuscitates Wall Street firm (dallasnews.com, 03/14/2008, 873 words)
- NEW YORK - On the verge of a collapse that could h... (cbc.ca, 03/14/2008, 887 words)
- Fed Reserve Bank of New York and JPMorgan step in to avert Bear Stearns collapse (business.timesonline.co.uk, 03/15/2008, 586 words)
- The week of crisis that made Wall Street turn its back on Bear Stearns (business.timesonline.co.uk, 03/15/2008, 1526 words)
- Bear Stearns bailed out by JP Morgan and NY Fed (business.timesonline.co.uk, 03/14/2008, 727 words)
- With high risk and cheap stock, will Bear be sold? (Washington Post, 03/14/2008, 340 words)
- Timeline: Bear Stearns’ year of turmoil (ft.com, 03/14/2008, 562 words)
- Bear Stearns: Fear now stalking the corridors of Canary Wharf headquarters (business.timesonline.co.uk, 03/15/2008, 756 words)
- Q&A: Bear Stearns banking crisis (BBC News, 03/14/2008, 607 words)
- Bear Stearns gets emergency funds (BBC News, 03/14/2008, 224 words)
- Bear Stearns gets emergency loan from Fed (L.A. Times, 03/14/2008, 945 words)
- JPMorgan, N.Y. Fed step in to rescue Bear Stearns (USA Today, 03/14/2008, 714 words)
- Investors fret over Bear Stearns (cbc.ca, 03/14/2008, 57 words)
- The Wall Street intervention that should worry the world (ft.com, 03/14/2008, 793 words)
- Experts: Aid for Bear Stearns could usher in further bailouts (USA Today, 03/14/2008, 688 words)
- Fed moves to minimise systemic risk (ft.com, 03/14/2008, 572 words)
- Times Online (business.timesonline.co.uk, 03/13/2008, 789 words)
- Concerted action wards off implosion (ft.com, 03/14/2008, 720 words)
- Fed leads Bear Stearns rescue (ft.com, 03/14/2008, 613 words)
- Victim of a crisis in credit and confidence (ft.com, 03/14/2008, 525 words)
- Exit Bear, pursued by its creditors (ft.com, 03/14/2008, 494 words)
- BEAR OFF ON CAPITAL WORRIES (NY Post, 03/14/2008, 216 words)
- London shares open flat on recession fears (business.timesonline.co.uk, 03/14/2008, 540 words)
- Stocks fall after Bear Stearns rescue (USA Today, 03/14/2008, 954 words)
- Bear Stearns: Lack of wisdom laid bare, for what little it's worth (business.timesonline.co.uk, 03/15/2008, 364 words)
- Final step in Cayne’s fall from grace (ft.com, 03/14/2008, 496 words)
- Overview: Bear rescue prompts flight to havens (ft.com, 03/14/2008, 668 words)
- Wall Street hit by mixed messages (ft.com, 03/14/2008, 734 words)
- Watch this office space (ft.com, 03/14/2008, 455 words)
- Wall Street turns lower :: CHICAGO SUN-TIMES :: Business (suntimes.com, 03/12/2008, 9 words)
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blaster@cs.columbia.edu
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