Let the bailouts begin!
US bank Bear Stearns has got emergency funding, in a move that raises fears that one of Wall Street's biggest names is on the verge of collapsing.
JP Morgan Chase will provide the money to Bear Stearns for 28 days with the Federal Reserve of New York's backing.
JP Morgan is also trying to get long-term financing for Bear Stearns.
JP Morgan Chase will provide the money to Bear Stearns for 28 days with the Federal Reserve of New York's backing.
JP Morgan is also trying to get long-term financing for Bear Stearns.
Comments 1
Reply
Leave a comment