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Saturday, March 11, 2023 2:22:41 PM
"In March 2008, JPMorgan stepped in to acquire the failing decades-old investment bank and prevent its collapse. The Federal Reserve helped back the deal with $30 billion in support for Bear Stearns’s mortgage-backed securities. But the deal also meant that JPMorgan was on the hook for the legal troubles of Bear Stearns and the other troubled institutions it acquired. The investment bank eventually spent $19 billion in fines and settlements with customers and regulators.
JPMorgan CEO Jamie Dimon now considers saving Bear Stearns a bad idea, writing in 2015 that “we would not do something like Bear Stearns again.”
https://fortune.com/2023/03/10/bill-ackman-twitter-silicon-valley-bank-bailout-startups/amp/
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