Bear Stearns Collapse and Federal Reserve-Facilitated Fire Sale to JPMorgan with $29 Billion Taxpayer Guarantee Establishes 'Too Big to Fail' Precedent with Zero Criminal Prosecutions Despite Fraud-Driven Collapse
Bear Stearns, the fifth-largest investment bank in the United States with $400 billion in reported consolidated assets, collapsed in March 2008 after its liquidity pool plummeted from $18.1 billion on March 10 to just $2 billion on March 13. The firm had leveraged its capital up to 35 …
Bear Stearns
JPMorgan Chase
Federal Reserve Bank of New York
Ben Bernanke
Timothy Geithner
+2 more
financial-crisis
regulatory-capture
too-big-to-fail
bailout
accountability-crisis
Read more →