Bear Stearns hits 11-year low
Bear Stearns’ (BSC) brush with failure sent investors fleeing the stock with renewed vigor Friday. Shares in the broker lost as much as half their value in furious morning trading after Bear admitted that its liquidity “significantly deteriorated” yesterday. That marked quite a turnabout from Bear CEO Alan Schwartz’s statement Monday that “Bear Stearns’ balance sheet, liquidity and capital remain strong.” At 10:20, Bear Stearns was down $22.94 at $34.06 after earlier hitting an 11-year low at $26.85.
After a steep opening selloff, though, other banks and brokers recovered to trade modestly lower. Goldman Sachs (GS) was down 2% to within a dime of its 52-week low, and Lehman Brothers (LEH) sank 4% after earlier tumbling as much as 11%. Clearly there are investors betting that at these low levels, the stocks offer a good risk-reward profile. With any luck those bets aren’t being made with borrowed money.
- Big tab for Lehman swap sellers
- Morgan Stanley tumbles again on possible downgrade
- More taxpayer money for AIG
- Legg Mason downgraded
- Feds back Morgan Stanley deal
- BofA halves dividend
- Wachovia: Citi’s loss, Buffett’s gain
- Citi left at the Wachovia altar
- Buffett support fails to lift GE
- Buffett finds GE in bargain basement
- shame on you for such a shocking head... More
- Isn't it a pity that the 'uptick' rul... More
- I invest like many others. And every... More
- You must be kidding me when you said... More
- I wonder if Henry Paulson will let Go... More
- I would like to request that Mr. Mozi... More
- if wells fargo is allowed to buy wach... More
- I am a current employee of ccity. It'... More
- AIG needs more taxpayer money, and no... More
- Know how bad GE stock has become...We... More
- Accrued Interest
- Aleph Blog
- Bespoke Investment Group
- Big Picture
- Calculated Risk
- Dealbook
- Econbrowser
- Felix Salmon
- Financial Armageddon
- Footnoted
- FT Alphaville
- Infectious Greed
- Naked Capitalism
- RGE Monitor
- Seeking Alpha
- Information Arbitrage
- Mish's Global Economic Trend Analysis
- Fortune on CNNMoney.com





It is getting very serious out there…but will get worse
the property bubble pops the same time as teh credit bubble oh dear…i think you will find things will slowly crumble.
have a look at this vid if you want to know if you can be helped. http://www.youtube.com/watch?v=8Ze0qjjGA-8