Bailout Casts Doubt on Bear Stearns' Future

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The big Wall Street investment firm Bear Stearns needed emergency funds Friday to fend off a liquidity crisis that threatened the firm's viability. J.P. Morgan Chase and the Federal Reserve Bank of New York are providing funds "as necessary." Bear's CEO, Alan Schwartz, had reassured investors that his firm was in fine shape, but the development shows how quickly things can change in the current environment.



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