Bear Stearns

Bear Stearns was a global investment bank and securities trading and brokerage firm that was founded in 1923 and headquartered in New York City. It was the fifth-largest investment bank in the United States at the time of its collapse in 2008.

Bear Stearns was a major player in the subprime mortgage market, and its collapse was a major factor in the 2008 financial crisis. The bank was heavily leveraged, and its exposure to subprime mortgages made it vulnerable to losses when the housing market collapsed. In March 2008, Bear Stearns was sold to JPMorgan Chase for $236 million in a fire sale.

The collapse of Bear Stearns was a major turning point in the financial crisis. It showed that even the largest and most respected investment banks were not immune to failure. The crisis also led to a loss of confidence in the financial system, and it took years for the markets to recover.

Here are some additional details about Bear Stearns:

* The bank was founded by Joseph Bear and James Stearns in 1923.
* It was originally a brokerage firm, but it expanded into investment banking in the 1930s.
* Bear Stearns was one of the first investment banks to offer mutual funds to retail investors.
* The bank was also a major player in the mortgage-backed securities market.
* Bear Stearns was heavily criticized for its role in the subprime mortgage crisis.
* The bank was sold to JPMorgan Chase in March 2008.
* The collapse of Bear Stearns was a major turning point in the 2008 financial crisis.

Bear Stearns' collapse was a major event in the history of finance. It showed that even the largest and most respected investment banks were not immune to failure. The crisis also led to a loss of confidence in the financial system, and it took years for the markets to recover.