On March 14, 2008, Bear's stock dropped nearly 40% in the first half-hour of trading, effectively tolling the death-knell of Bear's existence as an independent entity (Boyd 2008). Only a temporary loan from J.P. Morgan Chase and the Federal Reserve Bank of New York prevented Bear from going bankrupt immediately.
Who was affected and what happened in the markets
Both investors and employees were affected: "I worked eight years at a firm that promoted me from the back office to investment banking," said one managing director, "I had thousands of shares and thought I could afford to send my kids to private schools and college. It's all gone now." (Boyd 2008). On Wall Street as a whole, pain and suffering reigned: the Dow Jones fell by as much as 300 points at one point and eventually closed 194 points lower. The repercussions were felt around the world: In London, the FTSE 100 fell 150 points and the Japanese Nikkei fell 454 points (Stepek 2008)
Where Bear ended up.: Who bought them and what is their place in the market today
Bear...
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