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History. Bear Stearns' former offices at 383 Madison Avenue. Bear Stearns was founded as an equity trading house on May 1, 1923, by Joseph Ainslie Bear, Robert B. Stearns and Harold C. Mayer with $500,000 in capital (equivalent to $8,941,406 in 2023). Internal tensions quickly arose among the three founders.
The 2007–2008 financial crisis, or the global financial crisis ( GFC ), was the most severe worldwide economic crisis since the Great Depression. Predatory lending in the form of subprime mortgages targeting low-income homebuyers, [1] excessive risk-taking by global financial institutions, [2] a continuous buildup of toxic assets within banks ...
Great Recession. The American subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010 that contributed to the 2007–2008 global financial crisis. [1] [2] The crisis led to a severe economic recession, with millions of people losing their jobs and many businesses going bankrupt.
A two-dollar bill taped over Bear Stearns' logo at its Madison Avenue headquarters just about said it all. On March 16, 2008, after a profound loss of confidence by Bear Stearns' lenders ...
Bear Stearns was levered 34-to-1 in the quarter before it went under. That is, its total assets were 34 times its equity cushion. And looking back historically, this wasn't a new phenomena for Bear.
March 10, 2008 -- "We have a serious problem". After nearly two months at the helm, Schwartz had barely had time to settle into his new corner office before the immediate series of events leading ...
Pursuant to the Order, Bear Stearns will pay $250 million, consisting of $160 million in disgorgement and a $90 million penalty.” On April 11, 2006, the SEC announced “charges against individuals involved in widespread and brazen international schemes of serial insider trading that yielded at least $6.7 million of illicit gains. The schemes ...
Jeffrey Epstein. Jeffrey Edward Epstein ( / ˈɛpstiːn / EP-steen; [1] January 20, 1953 – August 10, 2019) was an American financier and sex offender. [2] [3] Born and raised in New York City, Epstein began his professional life as a teacher at the Dalton School despite lacking a college degree. After his dismissal from the school in 1976 ...