Summary
AMERICA'S financial crisis took a turn for the worse yesterday, after the US authorities were forced to bail out Bear Stearns.
The bank, which employs 14,000 staff worldwide, including 1,370 in London, has had to line up emergency 28-day funding through JPMorgan, which has been guaranteed by the Federal Reserve, America's central bank.See the full content of this document
Extract
Us Forced to Bail Out Bear Stearns
Bear's near collapse, which is likely to result in its being broken up or salvaged at a knockdown price by a rival...
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