April 2, 2008
Bear Stearns Deal Under Scrutiny
With the 212-page Blueprint Paulson Report adding fuel to the fire over how the government should handle the credit crunch, more and more critics are emerging over the Federal Reserve’s role in the JPMorgan Chase/Bear Stearns deal. Yesterday’s WSJ opinion column is just one.
Fed Chair Ben Bernanke started two days of testimony today on Capitol Hill, with today’s appearance before the Joint Economic Committee of Congress and tomorrow before the Senate Banking Committee. Here is his prepared testimony – and here is a DealBook article on his testimony. And here is information about the assets that backed the Fed’s $29 billion loan that supported the deal. Much more to come on the Fed’s role I’m sure…
Upcoming Webcast: “JPMorgan Chase/Bear Stearns: Splicing the Delaware Issues”
On April 29th, join us for the webcast – “JPMorgan Chase/Bear Stearns: Splicing the Delaware Issues” – as Professors Elson, Davidoff and Cunningham analyze a host of novel provisions in the JPMorgan Chase/Bear Stearns merger agreement (and any Delaware court opinion that may be rendered within the next few weeks).