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Bear Stearns is alive and well

Jamie Dimon

Ten years ago last Friday, JPMorgan Chase announced it would buy collapsing investment bank Bear Stearns for pennies on the dollar after a weekend of emergency talks brokered by the government to avert a financial crisis.


Hedge Fund

Former hedge fund manager faces 'significant time in prison for his fraud'

Geoffrey S. Berman, the United States Attorney for the Southern District of New York, announced that MICHAEL SCRONIC, a former hedge fund manager, has pleaded guilty to securities fraud before U.S. District Judge Cathy Seibel. SCRONIC admitted as part of his plea that he had defrauded the 45 investors in his Scronic Macro Fund of more than $22 million