JPMorgan Acts to Buy Ailing Bear Stearns at Huge Discount - New York Times

JPMorgan Acts to Buy Ailing Bear Stearns at Huge Discount - New York Times: "Bear Stearns, pushed to the brink of bankruptcy by what amounted to a run on the bank, agreed late Sunday to sell itself to JPMorgan Chase for a mere $2 a share, narrowly averting a collapse that threatened to cascade through the financial system."