Steep Selloff of Bear Stearns Stocks »
Posted by: GraceCheng1 5 months, 2 weeks agoThis is the biggest news of the day: Bear Stearns, the second-largest underwriter of US mortgage bonds, is in big trouble and has approached the Fed. After denying for three days that access to capital was at risk, Bear Stearns said today that its cash position had "significantly deteriorated".
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