Bear Stearns which is one of the biggest financial services company has received interim financing from the Federal Reserve Bank of New York to help boost liquidity. The share price of Bear Sterns stock plunged over $23 a share to $33.78.
Bear said it was talking with JPMorgan Chase about permanent financing and other solutions. I think that this should raise an eyebrow as to the liquidity of other banks that were heavily into mortgage back securities. Hopefully we are nearing the end of the subprime loan issues.
Additional Articles on GetPrequalified.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment