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Reuters: Bear Stearns gets Fed funding as shares plummet

Started by chris, March 14, 2008, 05:01:03 PM

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chris

Bear Stearns gets Fed funding as shares plummet
      


NEW YORK (Reuters) - JPMorgan Chase & Co and the Federal Reserve Bank of New York on Friday agreed to provide emergency financing to Bear Stearns after the investment bank said its cash position had deteriorated sharply, sending its shares into freefall.
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