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Article: US Federal Reserve backs new JPMorgan, Bear Stearns deal
- Article from:
- AP Worldstream
- Article date:
- March 24, 2008
- Author:
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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The Federal Reserve is backing JPMorgan Chase & Co.'s revamped offer to buy Bear Stearns Cos.
The Federal Reserve Bank of New York said it will provide financing to facilitate the deal.
"This action ...
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... ... sure whether the Federal Reserve's rescue of Bear Stearns averted a seizure ... watched in horror as Bear Stearns came under assault ... 13 (3) of the Federal Reserve Act - to be used ... credit risk from the Bear Stearns carcass. By taking ...
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