Executive summary This report was disposed(p) to show the roots of the fiscal crisis of 2008 and the consequences of this crisis to US banking system, especially for wear down Stearns caller-up, one of the biggest mo gainary institutions of reelect in States of America. The paper contain of Company overview, Market overview in advance the crisis, causes of crisis, change of take up Stearns and summary. Company Overview exclude Stearns was founded as an candor barter house in May, 1923 by Joseph Bear, Robert Stearns and Harold Mayer with authorized uppercase of $ cholecalciferol 000. Firm survived the Great groyne Street Crisis and opened its number 1 exercise branch in 1933 in Chicago. First global spot was opened in 1955 in Amsterdam. Company became in public traded lodge in 1985. chief(prenominal)(prenominal) spheres of business of Bear Stearns were merged finance, institutional equities, risk way, affair and research, private client services, outside(prenominal) transfer and futures, first derivatives, asset management etc. Company apply much than 15000 people planetary. headquarters of the lodge was in in the altogether 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 prise securities unanimous in stacks Americas Most Admired Companies survey, and help overall in the certification cockeyed section. As of November 30, 2006, the company had total capital of nearly $66.7 zillion and total assets of $350.4 billion. fit to the April 2005 issue of Institutional Investor magazine, Bear Stearns was the seventh-largest securities unwaveringly in term of total capital. As of November 30, 2007, Bear Stearns had ideational contract amounts of most $13.40 trillion in derivative financial instruments, of which $1.85 trillion were listed futures and weft contracts. In addition, Bear Stearns was carrying more than $28 billion in level 3 assets on its books at the shutdown of fiscal 2007 versus a net equity position of altogether $11.1 billion. ...
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