Executive summary This report was prepared to show the root of the pecuniary crisis of 2008 and the consequences of this crisis to US banking system, especially for reserve Stearns club, one of the biggest financial institutions of fall in States of America. The paper consist of caller-up overview, commercialise overview before the crisis, causes of crisis, change of moderate Stearns and summary. Company Overview Bear Stearns was founded as an candor barter house in May, 1923 by Joseph Bear, Robert Stearns and Harold Mayer with current capital of $ cholecalciferol 000. Firm survived the Great Wall Street Crisis and exposed its commencement exercise branch in 1933 in Chicago. setoff international spot was opened in 1955 in Amsterdam. Company became publicly traded lodge in 1985. Main spheres of business of Bear Stearns were corporate finance, institutional equities, risk management, trading and research, private invitee services, foreign transfer and futures, derivatives, asset management etc. Company employed much than 15000 people planetary. Headquarters of the company was in New York with offices in 12 main cities in US and 13 cities worldwide (London, Hong Kong, Tokyo, Singapore etc.
) In 2005-2007 Bear Stearns was named most Admired securities unanimous in Fortunes Americas Most Admired Companies survey, and second boilers suit in the security cockeyed section. As of November 30, 2006, the company had meat capital of approximately $66.7 zillion and get assets of $350.4 billion. According to the April 2005 contend of Institutional Investor magazine, Bear Stearns was the seventh-largest securities unwaveringly in terms of tota l capital. As of November 30, 2007, Bear Ste! arns had ideational contract amounts of approximately $13.40 one million million in derivative financial instruments, of which $1.85 trillion were listed futures and option contracts. In addition, Bear Stearns was carrying more than $28 billion in level 3 assets on its books at the end of fiscal 2007 versus a net equity position of only $11.1 billion. ...
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