Bear Stearns

DefinitionThe Bear Sterns was a New York City based global investment bank and financial company that collapsed in 2008 during the subprime mortgage crisis. The company was founded in 1923 and lasted for eighty-five years until its collapse in 2008. Until its collapse, Bear Stearns became one of the largest investment banks and a global bank after it survived the 1929 stock market crash (the great depression). The Collapse of Bear StearnsIn 2006 alone, it generated a $9 billion worth of revenue, earned $2 worth of profits, and had an employee strength of over 12,800 globally. As of 2007, its…
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