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.
But there are always winners. In this case JP Morgan Chase, it picks up a business with a large clientele and which can take profit in some years. The winner is really Chase Manhattan who already bought a JP Morgan in the year 2000, touched by the turbulence of the crisis of 1998 and the case of LTCM, the famous Hedge Fund that lost 4600 million of $ in 4 months of 1998 and it was finally liquidated in the year 2000.
By the way that Chase Manhatan, although he kept that name, arises from Chemical Bank that bought a Chase Bank Manhatan weakened by the real estate crisis in the 90.
Turbulent times we live that serve for the creation of new large companies through mergers and acquisitions.
And of course, other 20000 million losses arising as a result of the subprime.