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« Previous Entry | Main | Next Entry » Will JPMorgan Chase have to assume all of Bear Stearns' debt? Name:
Richard Johnson
Question/Comment: Will JPMorgan Chase have to assume all of Bear Stearns' debt? Paul Solman: Nope. The Fed covers the first $30 billion dollars of Bear Stearns losses -- $30 BILLION! That's in the ballpark of what we spend a year on homeland security! -- Posted April 1, 2008 | Comments (1) | Permalink
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and why shouldn't they. They bought the firm and all of its assets, as well as liabilities. Sure, the Reserve had to make some supporting backups, but Goldman, Sachs, for better or worse stepped up and bought Bear Stern. I am not going to go down the list of possible candidates to actually assume the debts of Bear Stern, but no one is more appropriate than Goldman, Sachs, if they can't handle it, then it is not unlikely that the Fed will step up once again, if absolutely necessary. The best of luck to all of us.