Don't Bank On An Easy Ride

May 2008 | Closing Bell

On May 30 a sombre 10 minute shareholder meeting officially saw the end of Bear Stearns, the worst casualty of the credit crisis thus far. Bear Stearns, the 85 year old brokerage, was sold for US$1.4bn to JP Morgan Chase. And with other US banks struggling, the outlook is grim.

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