Everything happened very quickly with Bear Stearns and JPMorgan Chase Bank. What was expected already for few days after the Bear Stearns' demise became an announcement as JPMorgan says it will buy Bear Stearns. Remember that few days ago last week JPMorgan with the US Government came to rescue Bear Stearns and today in the release below JP is buying the giant investment bank.

I haven't talked about my investments in a while. Partly because I have no real investments, but also because I am doing so bad it's not worth embarrassing myself by talking about it. Look at what is happening in the hedge fund industry after the bad news of Bear Stearns and JP Morgan bail out.

Bear Stearns received a surprise lifeline by the federal government and JPMorgan Chase & Co. in a last moment effort to save the 86-year old institution from financial collapse. How fair is this to millions of citizens?

Bear Stearns is finished. If your prime broker freezes up, your trading freezes up, too. Every hedge fund, etc. that has BSC as a prime broker is doing whatever it can to get out of that relationship; everyone knows that everyone else is also trying to do that; so Bear Stearns is facing a high-finance version of a run on a bank. Its stock is down 48 percent today, from $160 nine months ago.

Investment bank Lazard reported Wednesday its record fourth-quarter profits of $122.6 million.

Bear Stearns names Alan Schwartz as CEO, who succeeded James Cayne. Despire Bear Stearn changes Cayne will remain as chairman of board.

It has been another dismal week in the United States as the multi-billion-dollar losses from the subprime crisis deepen. Investment Bank Bear Stearn reveals more losses.

There are growing fears that the world is headed for a major credit crash because of Enron-style behaviour by the world's biggest investment banks.

Merrill Lynch & Co., Inc. (NYSE: MER) today announced that Nelson Chai has been appointed executive vice president and chief financial officer of the company, effective December 10.