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Just four days ago Bear Stearns Chief Executive Alan Schwartz assured Wall Street that his company was not in trouble .... management needs investigated by the SEC and should face criminal charges and prison.
JPMorgan's acquisition of Bear Stearns represents roughly 1 percent of what the investment bank was worth just 16 days ago. It marked a 93.3 percent discount to Bear Stearns' market capitalization as of Friday, and roughly a 98.8 percent discount to its book value as of Feb. 29.
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