Bear Stearns collapse adds further woes to Global credit crunch
So it seems another investment bank is in trouble.
The bailing out of Bear Stearns by rival JP Morgan Chase for a mere $2 per share has rocked the US banking system. For many people, this might seem like just another financial saga at another distant investment bank. However, the collapse of Barings in 1995 and the troubles at BNP Paribas late last year were as a result of Rogue Traders. The problems at Bear Stearns were a direct result of the current credit crunch.Â




