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- Bear Stearns was a global investment bank located in New York City that collapsed during the 2008 financial crisis. The bank was heavily exposed to mortgage-backed securities that turned into toxic assets when the underlying loans began to default. Bear Stears was ultimately sold to JPMorgan Chase at a fraction of its pre-crisis value.
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The Bear Stearns Companies, Inc. was an American investment bank, securities trading, and brokerage firm that failed in 2008 as part of the global financial crisis and recession. After its closure it was subsequently sold to JPMorgan Chase.
James E. "Jimmy" Cayne (February 14, 1934 – December 28, 2021) was an American businessman and CEO of Bear Stearns. In 2006, he became the first Wall Street chief to own a company stake worth more than $1 billion, but he lost most of that in the 2007–2008 collapse of Bear's stock and sold his entire stake in the company for $61 million.
Sep 30, 2018 · Bear Stearns was the first domino to fall in the 2008 financial crisis. Chairman Jimmy Cayne is blamed for missing bad bets. Risky mortgages, too much debt and poor oversight led to Bear’s...
Apr 30, 2023 · Bear Stearns was a global investment bank located in New York City that collapsed during the 2008 financial crisis. The bank was heavily exposed to mortgage-backed securities that turned into...
Dec 29, 2021 · Key Points. Former Bear Stearns CEO Jimmy Cayne died Tuesday, days after suffering a stroke, according to published reports. Cayne rose from broker to president and then CEO at Bear Stearns,...
Mar 4, 2009 · When the first jet hit the World Trade Center towers on the morning of September 11, 2001, Jimmy Cayne, then chairman and CEO of Bear Stearns, turned on a small television in his midtown...
Jan 2, 2022 · James Cayne, who was the chief executive of the investment bank Bear Stearns as it lurched into the global financial crisis, died on Tuesday in Long Branch, N.J. He was 87.
