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-as of [4 AUGUST 2024[-
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*former NYSE ticker symbol BSC*
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-the [bear stearns companies incorporated] – based in NYC – was one of the largest ‘global investment banks’ and ‘securities trading/brokerage firms’ prior to its sudden [collapse / distress sale] to ‘JPMorgan Chase’ in [march 2008]-
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Bear Stearns pioneered the securitization and asset-backed securities markets, and as investor losses mounted in those markets in 2006 and 2007, the company actually increased its exposure, especially the mortgage-backed assets that were central to the subprime mortgage crisis.
In March 2008, the Federal Reserve Bank of New York provided an emergency loan to try to avert a sudden collapse of the company.
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(the company could not be saved, however, and was sold to JPMorgan Chase for as low as ten dollars per share, a price far below the 52-week high of $133.20 per share, traded before the crisis, although not as low as the two dollars per share originally agreed upon by ‘bear stearns’ + ‘jpmorganchase’)
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*SKETCHES*
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