Bear Stearns Sold to JP Morgan - Bear up folks the credit crunch is taking hold
Bear Stearns was one of the world greatest investment banks and was once the biggest underwriter of U.S. mortgage bonds.
You may of heard however that its share price has fallen over 90% this year. And now they have eventually crumbled selling out to JP Morgan at a real bargain of just over $2. It was trading at over 30$ a share a few weeks back.
The credit crunch is taking a grip folks so beware there are going to be troubled times ahead. The UK is always a few months behind the U.S and a storm is brewing that is heading across the Atlantic ocean.
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