Bear Stearns

Bear Stearns was an American investment bank and securities trading and brokerage firm founded in 1923 by Joseph Ainslie Bear, Robert B. Stearns, and Harold C. Mayer, headquartered on Madison Avenue in Manhattan. It grew into the fifth largest investment bank in the United States, offering corporate finance, mergers and acquisitions advice, trading, asset management, and custody services. Heavy exposure to subprime mortgages triggered a collapse in 2007 and 2008, and on March 16, 2008, the Federal Reserve and JPMorgan Chase arranged its acquisition by JPMorgan Chase, a deal finalized on May 29, 2008. JPMorgan stopped using the Bear Stearns name in January 2010. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/