JP Morgan to guarantee the trading obligations of Bear Energy

“Effective immediately, JP Morgan Chase is guaranteeing the trading obligations of Bear Stearns and its subsidiaries and is providing management oversight for its operations,” said the bank in a statement, following the acquisition which valued Bear Stearns at $240 million, less than a tenth of its value last week.

JP Morgan did not immediately respond to a request for comment.

Late last week reports surfaced that Bear Stearns’ Bear Energy trading unit was liquidating all or part of its inve

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: