Bear Stearns Bought Out by JP Morgan Chase
Bear Stearns, an 85-year-old investment bank, has been purchased by JP Morgan Chase at the rock-bottom price of $2 a share. The Federal Reserve will provide up to $30 billion to JP Morgan Chase to help it finance the purchase.
Mark Zandi, chief economist for Moody's Economy.com, and Sam Hayes, professor of investment banking at Harvard Business School, discuss the buy-out deal and what it could mean for small businesses.
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