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professor, communicator, engineer

Bear Stearns, the first great bankruptcy of the crisis

Bear Stearns went bankrupt and was bought by JP Morgan Chase for 2 $ each share.

If we take into account a year earlier was worth to 150 $ each share, It is clear that it has been purchased at a symbolic price. About 200 million of $ compared to a value exceeding 20000 million a year ago.

The credit crisis we have lived and live and has lived primarily the United States is the guilty for the destruction of almost 20000 million of $ of value in a large company. Continue reading