Roter Alarm! Bear Stearns auf den Schirm!

philliecht , Freitag, 14.03.2008, 06:45 (vor 6534 Tagen)

Die werden jetzt an den Tropf gehängt:

In a dramatic move Friday, JPMorgan Chase & Co. (JPM) and the Federal Reserve Bank of New York stepped in to provide Bear Stearns Cos. (BSC) with funds to shore up the beleaguered investment bank amid persistent concerns about its liquidity.
The move took the credit crisis to a new, more serious stage and was a reminder of how quickly an erosion of confidence can hamstring even leading financial institutions.
Bear Stearns executives had reassured markets all week that the bank's financial position was solid, but were ultimately forced to seek help.
"We have tried to confront and dispel these rumors and parse fact from fiction," CEO Alan Schwartz said in a release. "Nevertheless, amidst this market chatter, our liquidity position in the last 24 hours had significantly deteriorated. We took this important step to restore confidence in us in the marketplace, strengthen our liquidity and allow us to continue normal operations."
The cost of protecting investments in Bear Stearns debt against default fell sharply on the news, but the bank's shares plunged, trading nearly 10% lower at $51.50.
JPMorgan and the New York Fed will provide Bear Stearns with secured funding for an initial period of up to 28 days. Through its discount window, the Fed will provide non-recourse, back-to-back financing to JPMorgan, which doesn't believe the effort "exposes its shareholders to any material risk."
JPMorgan is also "working closely with Bear Stearns on securing permanent financing or other alternatives for the company."
Bear Stearns shares have been walloped of late amid concerns about the company's prospects. Shares are down some 25% this month alone, including a 7.4% drop Thursday.

Quelle: DJ Newswires

Tja, wie ich schon sagte, die 200 Yards vom Mittwoch sind nichts im Vergleich zu dem was wirklich gebraucht wird.......

Grüsse

Philliecht