Did Bear Stearns clients lose money?
Did Bear Stearns clients lose money?
The collapse and takeover of Bear Stearns wiped out billions of dollars in shareholder value in a matter of days. The investment bank’s employees were some of the biggest losers. But NPR’s Scott Horsley reports that a number of large mutual funds also saw the value of their Bear Stearns holdings plummet.
What is Bear Stearns worth?
By Saturday, J.P. Morgan Chase concluded that Bear Stearns was worth only $236 million.
How much money did Bear Stearns lose?
The company could not be saved, however, and was sold to JPMorgan Chase for $10 per share, a price far below its pre-crisis 52-week high of $133.20 per share, but not as low as the $2 per share originally agreed upon by Bear Stearns and JPMorgan Chase….Bear Stearns.
| Type | Public |
|---|---|
| Website | www.bear.com (redirect to JPMorgan Chase) |
How much did JP Morgan buy Bear Sterns for?
People enter and exit the Bear Stearns headquarters in New York, on Monday, March 17, 2008. At the request of the government, J. P. Morgan originally agreed to rescue Bear for $2 a share, a stunning fire sale price that was eventually raised to $10.
When did Bear Stearns go under in 2008?
The Bush administration, criticized for earlier bailouts, cut Lehman loose In March 2008, the investment bank Bear Stearns began to go under, so the U.S. treasury and the Federal Reserve system brokered, and partly financed, a deal for its acquisition by JPMorgan Chase.
When did JPMorgan decide to buy Bear Stearns?
The average price target: $93.62. 12) March 16 & 17, 2008 – JPMorgan agrees on March 16 to buy Bear for $236 million, or $2 a share, representing just over 1 percent of the firm’s value at its record high close just 14 months earlier. The deal essentially marks the end of Bear’s 85-year run as an independent securities firm.
When did James Cayne resign as CEO of Bear Stearns?
6) August 5, 2007 – Warren Spector resigns under pressure as co-president and co-chief operating officer of Bear, having lost the confidence of long-time CEO James Cayne for his handling of the subprime mortgage crisis. The stock closes at $113.81 on Monday August 6. The average target price: $164.29.