Bear Stearns Companies, LLC and its subsidiary, EMC Mortgage Corporation, have agreed to pay $28 million to settle Federal Trade Commission charges that they engaged in unlawful practices in servicing consumers' home mortgage loans.
The companies allegedly misrepresented the amounts borrowers owed, charged unauthorized fees, such as late fees, property inspection fees, and loan modification fees
Two former hedge fund managers of Bear Stearns, Ralph Cioffi and Matthew Tannin, were arrested at their respective homes in New York, after a one year probe into the collapse of two hedge funds they were in charge of, according to the FBI. Cioffi was arrested at his home in Tenafly, New Jersey, and Tannin was picked up from his Manhattan residence. Both are expected to be indicted on securities
When you do an 8-hour marathon show, you’re inevitably gonna fall behind on some stuff, Sykes’ Saturday Seven was one of the causalities, here it is:
God I love it…You want the pump? You want the pump? You can’t handle the pump!
Cost of living rising due to speculators? Pffffff Maybe the cost of dying is dropping [...]
A majority of Bear Stearns shareholders approved a buyout of the company for about $10 per share by J.P. Morgan Chase & Co. at a brief meeting of shareholders at the Bear Stearns Headquarters in midtown Manhattan. The approval was a foregone conclusion since JP Morgan had already purchased 49.5% of Bear stock. Background on the deal midwifed by the Federal Reserve here, here and here.
While t
Courtesy of Johnlaw2012 from CNA forumThe Highly Suspicious Out-of-the-Money Puts That was one of many questions raised by John Olagues, an authority on stock options, in a March 23 article boldly titled “Bear Stearns Buy-out . . . 100% Fraud.” Olagues maintains that the Bear Stearns collapse was artificially created to allow JPMorgan to be paid $55 billion of taxpayer money to cover its own i
Courtesy of Johnlaw2012 from CNA forumThe Highly Suspicious Out-of-the-Money Puts That was one of many questions raised by John Olagues, an authority on stock options, in a March 23 article boldly titled “Bear Stearns Buy-out . . . 100% Fraud.” Olagues maintains that the Bear Stearns collapse was artificially created to allow JPMorgan to be paid $55 billion of taxpayer money to cover its own i
Why hold back feelings? Vincent Reinhart, former head of monetary affairs at the Federal Reserve called the deal to save Bear Strearns (BCS) by backing a sale...
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-wall-streets.html Here's another perspective on the Bear Stearns issue with the SEC. The primary focus on this is how the SEC had acknowledged Bear Stearns shady pricing methods for their CDOs but did nothing to stop them until the bail out.
On a personal note, I have large issue with the concept of a tax payer bail out. Whether the government admits it or not, when the Federal Reserve backs these deals it is you and me that foot the bill if things go sour. We as taxpayers should not have to pay for their indiscretions that made them a fortune over the boom of subprime lending but has now led to their demise.
I found this article interesting in that it points out how difficult it will be to get these executives for fraud without an email basically saying that they willfully provided valuations despite having knowledge that they were incorrect. What the article does not address is whether the action would fall under Sarbanes Oxley which would provide prosecutors with another means of pursuing these executives in court.
From: The day the financial world almost ended "Given the exceptional pressures on the global economy and financial system, the damage caused by a default of Bear Stearns could have been severe and extremely difficult to contain," said Bernanke. Those words should send chills down every spine in America. I might understand such damage occurring if one of our major commercial banks failed. But an investment bank? "The fate of Bear Stearns was the result of a lack of confidence, not a lack of capital," continued Christopher Cox, chairman of the SEC, making it abundantly clear the real problem was the lack of confidence in Bear Stearns. Alan Schwartz, Bear Stearns CEO, echoed the Cox comments by adding that what brought Bear Stearns to its knees was not a lack of capital or liq
Thanks to a silly SEC requirement, TheStreet.com made Jim Cramer’s salary a matter of public record. The stock picker of questionable talent saw his pay jump 30 percent, earning a base of $1.3 million this year (up from $1m) and, by 2010, some $1.87 million. Since we’re crunching numbers, consider what would’ve happened...
REGULATORS TELL SCHUMER: BEAR STEARNS’ CASH SHORTAGE WAS UNKNOWN UNTIL IT WAS TOO LATE, SHOWING NEED FOR REGULATORY REFORM
Washington, D.C. - Under questioning today by U.S. Senator Charles E. Schumer (D-NY) at a Senate Banking Committee hearing, Federal Reserve Board Chairman Ben Bernanke and other top regulators admitted that none of them knew of the [...]
Bernanke Says Fed Acted to Prevent Collapse of Bear Stearns to Protect Financial System
By Martin Crutsinger, AP Economics Writer
WASHINGTON (AP) — The Federal Reserve’s unprecedented actions to prevent the collapse of Bear Stearns were taken to preserve the “integrity and viability of the American financial system” and did not represent any kind of bailout, Fed [...]
By Sue Kirchhoff, USA TODAYWASHINGTON — Federal Reserve Chairman Ben Bernanke said Wednesday that the economy could fall into recession, as housing and financial markets remain distressed despite dramatic Fed interest rate cuts and emergency lending. "It now appears likely that (the economy) will not grow much, if at all, over the first half of 2008 and could even contract slightly," Bernanke told the Joint Economic Committee. He expects activity to pick up into 2009 but warned that major risks remain. "We are fighting against the wind," Bernanke said. Bernanke staunchly defended the Fed's decision last month to broker JPMorgan Chase's (JPM) takeover of investment bank Bear Stearns, (BSC) including approval of a loan backed by $30 billion of Bear Stearns assets. MORTGAGE DEMAND DROPS: In
By Sue Kirchhoff, USA TODAYWASHINGTON — Federal Reserve Chairman Ben Bernanke said Wednesday that the economy could fall into recession, as housing and financial markets remain distressed despite dramatic Fed interest rate cuts and emergency lending. "It now appears likely that (the economy) will not grow much, if at all, over the first half of 2008 and could even contract slightly," Bernanke told the Joint Economic Committee. He expects activity to pick up into 2009 but warned that major risks remain. "We are fighting against the wind," Bernanke said. Bernanke staunchly defended the Fed's decision last month to broker JPMorgan Chase's (JPM) takeover of investment bank Bear Stearns, (BSC) including approval of a loan backed by $30 billion of Bear Stearns assets. MORTGAGE DEMAND DROPS: In
The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. The main business areas, based on 2006 net revenue distributions, are: capital markets (equities, fixed income, investment banking; just under 80%), wealth management (under 10%) and global clearing
"At least the U.S. economy has started to look more like a soap opera and less like a Greek tragedy this week. Maybe we can get out of the current market situation without having to watch every player die a bloody, violent death, afterall… or maybe not. Either way, I’d bring a an umbrella to [...]
Here we go again. After every major financial scandal, Congress has to step in with inquiries and hearings. Other than the fact that these hearings very rarely provide any new information, inform Congress or the public with specifics, or end up blaming anyone, it also shows how ineffectual Congress is, since no one asked them for an opinion when the deal was being hammered out and they're in no
As you said, it would definitely be a mistake to get an MBA without work experience first; it won't help you get into finance at all if you go to a lower-tier school.
The Master's program you mention will not give you a significant advantage; although it is at a good school, it's not equivalent to an MBA.
The recent government-sponsored bailout of Bear Stearns, one of the top five lenders in the United States, has shocked traders and left investors cold. Despite the chilly reaction on Wall Street, secretly many are breathing a sigh of relief. While Bear Stearns was mismanaged from its upper echelons, its subprime exposure grew until their recent [...]
James Cayne, chairman and, before he was asked to leave, CEO of Bear Stearns (NYSE: BSC) sold all of his holdings in the firm for $61 million, according to...
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Bear Stearns Companies Inc. (NYSE: BSC) has an SEC filing out showing that Chairman James "Jimmy" Cayne sold shares the day after JPMorgan Chase (NYSE: JPM)...
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Hoping to quickly seal its government-backed takeover of struggling brokerage Bear Stearns Cos., banking giant JPMorgan Chase & Co. on Monday said it would pay five times its original offering price for the firm and shift $1 billion of risk in the deal from the Federal Reserve’s shoulders to its own.The unprecedented and controversial rescue [...]
By Jennifer Ablan
NEW YORK (Reuters) - A used T-shirt bearing the Bear Stearns logo has sold for $151.76 online, worth about 14 or 15 shares in the once venerable Wall Street investment bank.
Bear Stearns shirts and other trinkets have been snatched up in recent days on eBay’s Internet auction site.
This particular extra-large men’s T-shirt, blue, [...]
JPMorgan has increased its buyout offer to $10 a share in order to deal win shareholder approval. Shares of Bear Stearns rose over 88 percent following the announcement.
JP Morgan (NYSE: JPM) revised its $2 offer for Bear Stearns (NYSE: BSC) up to $10. Bear now trades at $11.40. Someone may think that JPM or another entity may...
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From Bloomberg: JPMorgan Chase & Co. agreed to quadruple its offer for Bear Stearns Cos. in an effort to overcome opposition from the shareholders of the crippled securities firm. Bear Stearns stock almost doubled.So those who bought BSC when it was trading at USD 2 something has made a 4 times profit!
The last 5 to 10 trading days have been dominated by Bear Stearns (NYSE: BSC). Whether it was over the counterparties ceasing to accept their credit, whether...
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The world moves faster today than it has ever before. And while that’s good in some cases, it can prove disastrous in others. Investment bank Bear Stearns recently learned a hard lesson when it comes to how quickly news travels. The rise of online media, the increasing interconnectedness of global financial markets, and healthy dose [...]
I believe this past week will be remembered for a very long time. The question that remains on most peoples' minds is, "how could a relatively small number of defaults on mortgages cause such a financial crisis?" The answer is simply, risk. With greater risk comes greater returns. However, most people never truly contemplate the potential results of risk when times are good, especially when it comes to home prices. Home prices have historicaly never really come down - they steadily go up. It seemed like a win win deal. Without going into too much detail, home prices did go down, and the percentage of foreclosures and defaults doubled (still, a relatively small number compared to good loans). Bear Stearns happened to be a big time player in the mortgage securities business. They were extrem
Bear Stearns head honcho Alan Schwartz has an overflowing cup of woes. The latest to pile on is the Securities and Exchange Commission. From Forbes - The SEC's enforcement division has written a letter to JPMorgan Chase saying the staff discussed "investigations and potential future inquiries into conduct and statements by Bear Stearns" before the announcement of the takeover. However, it added
Last night when my wife asked me what the “credit crunch” was all about, I responded, “Well uh, you know, it’s because of the sub-prime mess….and, uh, the banks and….
It was a really bad answer, but truth be told, I didn’t really understand what it was all about. I know about the sub-prime mess [...]
The reality is no one knows what's going on. Neither the CEOs of the companies, the Fed, nor any of the Managing Directors know what's going to happen.
Will people be fired? Yes. But no one knows how many, who, or when, and anyone else saying otherwise is simply spreading false rumors.
It was the cleanest theft since the Great Brink's Robbery in 1950. The Fed and JP Morgan (JPM) got the Bear Stearns (BSC) management is a room over the weekend...
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Although many bloggers (myself included) were using Bear Stearn’s Monday’s decline from $30 to $2 as a reason not to stress NOT catching a falling knife, one can’t deny today’s result – which is that the stock has more than doubled intraday from yesterday’s close.
From an intraday low near $3.50 yesterday, Bear (BSC) has reached [...]
Let's face it. The $236 million sale of Bear Stearns at $2 per share to JPMorgan is a sham. Senior Executives, with stakes of over $100 million even at the reduced pre-sale market price of Bear shares, saw their life savings go up in smoke. So did the former James E. Cayne, the former Chief Executive, who holds 5.8 million shares which are now valued at $28 million, considering the current market
Some comments on the bailout from Stratfor:It is important to understand what the Fed was trying to achieve. In essence, its goal was not complicated. It was trying to manage the collapse of a financial institution — Bear Stearns — such that it did not default on its clients, individual and institutional. The threat it faced was of bank failures, in which depositors would lose their savings. If Bear Stearns had been unable to carry out financial transactions on Monday morning because of a lack of cash, its clients effectively would have found their assets frozen. And that would have touched off a ripple through the financial system that might have caused a series of uncontrollable failures.The Fed did two things to prevent this scenario. First, it engineered a buyout of Bear Stearns by
Bear Stearns's Advice To MicrosoftWill Microsoft's bid for Yahoo! become a casualty of the Bear Stearns fallout? Link - Mon, 17 Mar 2008 22:51:18 GMT - Feed (2 subs) Sent using SendMeRss.com. Visit here to unsubscribe from "2-business" via X2 in Google. Recommended Feeds/Actions Subscribe NBCSports.com - NBA Photos
Treasury Secretary Paulson and the Bear Stearns Bailout - Hillbilly ReportPut plain for the simple folksread more | digg storyLiberty Central- Conservatism's Blog of Choice
The Indian outfit of US's fifth largest investment bank, Bear Stearns, on Monday began liquidating its holdings in India, triggering fears of a further plunge in the stock prices of mid-cap companies held by it. Bear Stearns Mauritius Ltd (BSMA), the Indian arm of the beleagured bank, has liquidated Rs 667.47 crore worth of shares, as Indian markets plummetted by 951 points on Monday on the heels of the global meltdown.Even on Friday, BSMA had sold off Rs 265.61 crore worth shares through negotiated deals on the Indian bourses. Majority of the holdings have been liquidated either by transferring of its holdings through P-note accounts or through negotiated deals.JP Morgan said it would acquire Bear Stearns for $236.2 million, a paltry $2 a share in a deal that represents a shocking collaps
Unless you’ve been living under a rock, you are probably aware of the JP Morgan/Fed orchestrated bailout. The amazing thing about this entire situation is how quickly Bear Stearns went under. In the matter of one year, the once fifth largest investment bank was bought out for a pittance of its once mighty [...]
Wall Street ended a temperamental session widely mixed Monday after investors grappled with JPMorgan Chase & Co.’s government-backed buyout of the stricken investment bank Bear Stearns Cos.The Dow Jones industrials recovered from an initial drop of nearly 200 points to finish up about 21 points. The broader Standard & Poor’s 500 and Nasdaq composite indexes [...]
This is so classic. On March 11, 2008, this financial commentary by “financial guru” Jim Cramer was featured on his popular Mad Money television show on CNBC. The customary Cramer angry rant was made in response to a call and write-in question about the serious viability and liquidity concerns regarding Bear Stearns, one of the [...]
Not long after it became widely known that Bear Stearns shares sold to JPMorgan for the portfolio crumbling price of $2 we got an email from a reader asking if we knew what else out there cost $2. Here’s what we found:
One-way metro pass on the New York subway system.
Two Jr. Bacon Cheeseburgers off of [...]
Bear Stearns came last summer as a first on surface with problems related to risky loans. In fact issues with Bear's hedge funds have started credit market turmoil. And these days this company is just history, traded for fraction of its price one year ago.Today company has earnings call. Also other big brokerages are releasing results this week like Goldman Sachs, Lehman Brothers and Morgan Stanley. What is interesting that up to now Bear Stearns hasn't declared such a huge writedowns as e.g. Merryll Lynch did.(see total writedowns due to subprime...)After this I am bit afraid from numbers coming this week. Of course someone can say BSC doesn't have such a diversification like others but still who would expect one week ago this collapse for one of the biggest financial company.Related tick
Billionaire Joe Lewis invested in Bear Stearns (NYSE BSC), buying as much as 10% of the brokerage firm. Now, he may be out over $1 billion. On Sunday, the...
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Adam Hewison, INO.com President, sums up the sentiment I’m sharing in this news release which explains why “trying to catch a falling knife” can cut your account to shreds. If you were a Market Club member, you likely caught the signal on this stock 12 days ago. I liked Adam’s quote, “Markets often [...]
It's all about Bear Stearns in the financial news. Abnormal Returns has a post with links about the investment banking and securities trading/brokerage company. Other links:- J.P. Morgan Buys Bear in Fire Sale, As Fed Widens Credit to Avert Crisis- Bear Stearns Forgets To Update Its Web Site- JPMorgan Acts to Buy Ailing Bear Stearns at Huge Discount- Billionaire Lewis Loses $1.16B On Bear Stakes
Recession worries are in the air as news hits that Bear Stearns, one of the largest investment banks has been bought out my JP Morgan for 2 dollars a share. This will reverberate through the Startup Community no matter where you are, because that means money just got tight, even more tight than the 30% [...]
The official headline is J.P. Morgan buys Bear Stearns for $2 a share. The real headline is that for the first time since the savings and loan crisis in the 1980s, a major US bank has gone belly up.
Perhaps it's obvious, but I think it should be pointed out anyway. If you work for a company that is publicly traded, don't invest too much in its stock. If the company goes bust, not only do you lose your job, but your investments as well. A lot of Bear Stearns employees, supposedly smart people, just lost their 401ks.One investment bank down, maybe a couple more to go.I had a couple of limit orders from a while back that I canceled. I'm trying not to buy anything until people stop talking about a bottom being in sight. There's still too much hope, I think.I'm also not selling anything. Let the dividends reinvest. I've got plenty of time to wait for them to go back up.Stocks I'd like to own (more of) in the future: NS or NSH, KFT, GE, PFE, PG, RAI, MO.Stocks look cheaper now, but I'm wond
Well I am short Goldman so I know this up’s my chances but I am not overly happy to see Bear Stearns fall other then that. It is tough to see an almost 100 year old financial institution failing like this because it is not a good sign for our financial markets.
If you missed the ticker, JPMorgan [...]
So, what should you do? Perhaps start speaking with boutiques and middle-market firms where you know people. Don't even try for other bulge brackets unless you have a killer connection that can get you in at this late stage.
JPMorgan Chase & Co bought stricken rival Bear Stearns for a rock-bottom price while the US Federal Reserve set an emergency interest rate cut and opened direct lending to Wall Street.
The shock news, the biggest sign yet of how devastating the credit crisis is for Wall Street, slammed the US dollar to a new record [...]
In an amazing turn of events, Bear Stearns was sold for an amazing fire sale price of $2 per share to fellow Wall St. bank JP Morgan Chase. This represents an unprecedented collapse in equity value in a major Wall St. firm. Be cautious as the waves in the financial markets are getting [...]
In a major development going on in the USA,the fifth largest Investment bank Bear Sterns is on sell for a mere $2 per share, or $232.6 million. and the company is being bought by another major investment bank called JPMorgan.
This stunning last minute decision is being taken by the board of Bear Stearns [...]
So JP Morgan Chase is buying Bear Stearns, for what everybody’s reporting to be somewhere in the $230-$250 million range.
That’s significantly less than Bear Stearns’ newish headquarters building at 383 Madison Ave.–a few blocks from JP Morgan Chase’s HQ–would fetch. Estimates Bloomberg:
The 1.2 million-square-foot, 45-story structure built in 2001 is worth about $1.2 billion, based [...]
Looks like Monday is going to be without a doubt, an interesting day in the global markets, due to an extremely troubling course of events on Sunday that will trip up investor confidence.
The first of this chain of events happened on Sunday evening when the Federal Reserve decided to cut its lending rate by .25% [...]
J.P. Morgan Buys Bear Stearns by WSJ - snip:J.P. Morgan Chase agreed to buy Bear Stearns for $2 a share in a stock-swap transaction, people familiar with the matter say. J.P. Morgan will exchange 0.05473 shares of its common stock per one share of Bear Stearns stock. Both boards have approved the transaction...------Reuters - Fed moves with emergency 1/4 rate cut, lending facilityFinancial Times - Wall Street waits for the next domino to fall New York City Housing Bubble - The BIG Picture
Bear Stearns’ 1Q Announcement For Monday Will Not Occur
Last Update: 3/16/2008 9:14:46 PM
DOW JONES NEWSWIRES
Bear Stearns Cos. (BSC) late Sunday said it won’t announce its first-quarter
earnings on Monday following its agreement earlier to be acquired by JPMorgan
Chase & Co. (JPM).
Bear Stearns was scheduled to originally report Thursday before it pushed the
date up to Monday after [...]
Most on Wall St. thought it would come to this, but few thought the price would be so low. JP Morgan (NYSE: JPM) will take over Bear Stearns (NYSE: BSC) for $2...
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The Bear Stearns Companies, Inc. is the parent company of the 5th largest U.S. investment bank and securities trading and brokerage firm, Bear, Stearns & Co., Inc. Last Sunday Bear Stearns had a choice to either sell at any price or declare bankruptcy. The company chose to sell at any price.
The U.S. government stepped in [...]
Wow! I am glad that I never even came close to this Bear Sterns (BSC). JPMorgan has officially bought Bear Stearns for $2 a share. What makes matters even worse is that the stock is currently sitting at $30!!! On top of that the stock was hit $27 down on Friday.
All this should be a [...]
According to The Wall Street Journal, JP Morgan (NYSE: JPM) is close to buying Bear Stearns (NYSE: BSC), just days after providing financial aid, which was...
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On Friday US market was down even after getting a good economic data because of the news that New York Fed and J P Morgan chase will provide emergency funding to bear Stearns to stave off liquidity problems arising from the credit crisis. They almost down by 50 percent and also it [...]
Joe Lewis, a British billionaire, has lost $800 million from investing in Bear Stearns (NYSE: BSC). Lewis has almost 10% of the brokerage company's shares....
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There's all kinds of rumours flying around Wall Street about who exactly is going end up with Bear Stearns, from an SWF fund to JPMorgan Chase, and even Warren Buffett . And its a question whose answer could determine the course and direction of the U.S. economy and worldwide markets. First of all, Bear has until Monday to clinch a deal, failing which they might need to file bankruptcy. Little
In a previously announced deal China's CITIC said it planned to invest $1 billion in Bear Stearns (NYSE: BSC). It has had a day to think that over after Bear...
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Hey Bear Stearns, I know a business that is having trouble, shoot me the number to get some of that federal money so they can stay a float. Thanks buddy…. psss. “mark to market”.
The Bear Stearns stock is in a free fall right now losing over $27 dollars yesterday. At this point I hope the short [...]
Friday morning Jim Cayne got to his office at Bear Stearns, flipped the switch and the lights did not come on. Despite all the assurances from the chief over the last two weeks, one of the world's largest investment banks was out of money. Cayne started scrambling, calling around the corner to JP Morgan, and got Ben Bernanke on the phone. As all this was going down, and the stock market tumbled, the Decider was a few blocks away at the Economic Club doing some chipper cheerleading, warning against any federal mortgage bailouts, and giving good marks to the Fed.Ben is doing a heck of a job.Of course, the source of the run on Bear Stearns, was the fact that the bear had been hibernating, as it sat on a big pile of worthless securitized mortgages.For the first time in seventy years, the Fed
Confidence in Bear Stearns plumeted Friday after the company announced that it has arranged for an undisclosed amount of emergency capital from JP Morgan and the Federal Reserve Bank of New York in order to deal with its recent drop in liquidity. Shares of Bear Stearns dropped over 50 percent following the announcement as investors are concerned that the company has too much exposure to mortgage based securities and will not be able to sell these assets without large further losses.
Bear Stearns, the fifth largest U.S. investment bank, on Friday said a cash crunch forced it to turn to the Federal Reserve and JPMorgan Chase for emergency funds, intensifying fears of a widening global credit crisis and driving its shares down as much as 50 percent.The 28-day emergency line of finance came just days after [...]
Bear Stearns Cos., one of the most venerable names on Wall Street, turned to a rival bank and the federal government for a last-minute bailout Friday to prevent it from collapsing.The Federal Reserve responded swiftly to pleas from Bear Stearns that its coffers had “significantly deteriorated” within a 24-hour period as rumors about the bank’s [...]
Bear Stearns wilts, traders smell trouble at Lehman
By Andrew Wilkinson and Rebecca Engmann Darst & Rebecca Engmann Darst
Last Update: 12:33 PM ET Mar 14, 2008
Other financials also hit, including UBS and Citibank
Andrew Wilkinson and Rebecca Engmann Darst are commentators with Interactive
Brokers, an options research and trading company in Greenwich, Conn.
GREENWICH, Conn. (MarketWatch) - The following [...]
Bear Stearns’ plunge drives down financials
By Greg Morcroft, MarketWatch
Last Update: 12:17 PM ET Mar 14, 2008
NEW YORK (MarketWatch) — Investors hammered financial stocks on Friday,
highlighted by Bear Stearns losing more than half its value at one point after an
elaborate bailout by the New York Federal Reserve Bank and J.P. Morgan triggered
sector-wide selling.
Bear, which earlier this [...]
The Bear Stearns Companies Inc. (NYSE: BSC) announced that will host a conference call today at 12:30 P.M. EST. The stock is now down more than $23.00 to under...
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Time to call a duck a duck SEC...
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Bear Stearns (BSC), one of the major US Financial companies, lost half its value intraday today on concerns that the Fed’s recent liquidity injection “might not work” for the company.
Instantly, the Federal Reserve voted unanimously today to provide cash to help this crisis, and stands ready to inject more as needed.
As reported by Yahoo News, [...]
The Philippines may end up with a budget surplus this year not because of high revenues but due to proceeds from the government’s asset sale, US-based investments bank Bear, Stearns & Co. Inc....
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Brokerages to Report Earnings This Week: Goldman Sachs, Morgan Stanley, Bear Stearns. Brokerage Earnings Outlook with Howard Silverblatt of S&P.
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Bear Stearns has a research note out calling for an imminent decision on the regulatory approval decision regarding the merger between Sirius Satellite Radio...
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CNBC just reported.
Bear Stearns on Wednesday said it would cut 650 jobs — about 4 percent of its global workforce — as the investment bank seeks to lower costs after losing bets on risky subprime mortgages.
As 24/7 Wall St. pointed out yesterday, financial matter are getting dire at newspaper chain McClatchy (MNI). October sales were off almost 10%. The stock hit...
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Play Video
Tom Keene’s Chart of the Day: 1998 Resurfaces for Bear Stearns
Bloomberg-Clip - (BLOOM-Clip)
Aug. 06, 2007. 03:00 PM EST
Bear Stearns Plunges to a Three-Decade Low
Bear Stearns, Hedge Funds
---Related Articles at Consumer Mortgage Reports:Bear Stearns Cayman Filing May Hurt InvestorsBear Stearns Ousts Warren Spector - Shares RecoverBear Stearns Ousts Co-PresidentBear Stearns Should Shut Up And Bernanke Needs To Stand UpBear Stearns - Outside the Envelope $172-$106Fitch Ratings Affirms $621.2MM & Downgrades $46.4MM From 2 Bear Stearns Subprime Deals
Bear Stearns Cos. said Sunday that co-President and co-Chief Operating Officer Warren Spector has resigned following the meltdown of two hedge funds that invested in risky mortgage-backed...
NEW YORK–(BUSINESS WIRE)–Fitch Ratings has taken the following rating actions on Bear Stearns mortgage pass-through certificates. Affirmations total $621.2 million and downgrades total $46.4 million. Break Loss percentages (BL) and Loss Coverage Ratios (LCR) for each class are included with the rating actions as follows:
Bear Stearns Asset Backed Securities I Trust 2005-HE10
–$297.7 million class A-1,A-2,A-3 affirmed at ‘AAA’ (BL:55.67, LCR:4.76);
–$28.5 million class M-1 affirmed at ‘AAA’ (BL: 41.84, LCR:3.57);
–$103.8 million class M-2 affirmed at ‘AA’ (BL:27.18, LCR:2.33);
–$41.3 million class M-3 affirmed at ‘A’ (BL:19.74, LCR:1.69);
–$12.3 million class M-4 affirmed at ‘A-’ (BL:17.14, LCR:1.47);
–$12.8 million class M-5 downgraded to ‘BBB’ from ‘BBB+’ (BL:14.42, LCR:1.23);
–$6.8 million class M-6 downgraded to ‘BBB-’ from ‘BBB
Standard & Poor's on Friday changed its rating outlook on Bear Stearns Cos. to negative from stable, indicating a greater chance of a downgrade over the next two years, as it warned of problems that...
Play Video
Bear Stearns funds worthless, signaling more subprime problems
Bloomberg-Clip - (BLOOM-Clip)
Jul. 18, 2007. 06:00 AM EST
Investments in two Bear Stearns hedge funds that had been worth $1.5 billion at the end of 2006 are almost entirely gone, the company said Tuesday
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