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JP Morgan buys Bear Stearns!

Look at how the market cap of BSC went down dramatically!



The deal values Bear Stearns, which has been at the centre of the US mortgage debt crisis, at just $236m (£116m).

Its shares have lost 98% of their value since their high of $158 in April one year ago, when the bank was worth $18bn.

It means that the former chief executive of the bank, Jimmy Cayne, the richest boss on Wall Street, has seen his fortune plummet from $1bn to $12m.


A strong wake up call for firms today stuck in the impasse or any flux, any units that are underperforming.

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