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From Bear Stearns to Credit Suisse: Crises, Mergers and Bailouts

From bnnbloomberg.ca

From as much as $96 billion to around $3 billion: Credit Suisse Group AG is poised to join the historic ranks of finance giants sold at fire-sale prices in the grip of a market crisis. As UBS Group AG looks all set to snap up the once-storied Swiss institution, the emergency government-brokered deal over the weekend bears soft echoes of the 2008 banking crash as Wall Street preps for fresh volatility on Monday. A reminder: During the Global Financial Crisis, JPMorgan Chase & Co. paid about $240 million for Bear Stearns — an investment bank that once commanded a stock market value of $140 billion. More takeovers and ... (full story)

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