Bear Stearns Bailed Out by Fed, JPMorgan
Story date: 2008-03-14 08:42:00
Added on: 2008-03-15 13:00:41
Newsday - Last summer, two hedge funds worth billions of dollars managed by Bear Stearns collapsed because of bad bets on securities backed by subprime mortgages -- loans given to customers with poor credit history.
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