Friday, March 14, 2008

Bear, Stearns in Trouble


The NY Federal Reserve Bank, and JP Morgan (JPM) have agreed to provide secured funding to Bear and an initial period of up to 28 days. JPM is working with Bear to secure permanent financing or other alternatives for them

Stuff happens.

NOTE WELL: Bear, Stearns is NOT a commercial bank. They do not take deposits (like the USBank does.) They are an Investment Bank, underwriting stocks and bonds, and trading in stocks and bonds.

Don't let a certain RadioMouth mislead you about what Bear, Stearns IS.

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