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... estment banks in the United States, was acquired.

   It is said to be acquired, but in fact it seems more appropriate to describe it as "selling yourself", because Bear Stearns actively sought to be traded when it was desperate. Alan Schwartz first called Federal Reserve Chairman Bernanke, declaring that Bear Stearns had fallen into a liquidity crisis, and hoped that the Federal Reserve could come to the rescue in an emergency. During the conversation, he emphasized that Bear Stearns has ...

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