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Bear Stearns Faces Liquidity Problems; Bailed Out by Feds, JPMorgan 

Mar 14, 2008By

Bear Stearns said Friday that it had obtained short-term financing from the Federal Reserve Bank of New York and JPMorgan Chase & Co. after the firm’s liquidity “significantly deteriorated” on Thursday. Market rumors that Wall Street’s mortgage giant was facing problems came to a head earlier in the week, although at the time the firm denied it was facing any liquidity problems.

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