... and a fourth setback: Bear Stearns, one of the largest US Investment Bank, has just confirmed it needs new massive funding to avoid bankrupcty. JP Morgan and the Federal Reserve Bank of New York have provided the investment bank with emergency short term funding. Alan Schwartz, the bank’s president and chief executive, said in a short statement today: "The company can make no assurance that any strategic alternatives" to fund itself in the long term "will be successfully completed
The future of iBear Stearsn new European HQ under construction in Canary Wharf is ... extremely bleak. We will know within the next 28 days whether this building will eventually stand empty or no.
Last edited by jef; Mar 14, 2008 at 2:39 PM.
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