Answer:
FAQ
Explanation:
In March 2008, Bear Stearns, one of the largest investment banks and securities trading firms in the world, rapidly fell apart. The firm could no longer raise private capital to fund its day-to-day activities and, with billions of dollars in liabilities, faced bankruptcy. Fearing a collapse of the investment bank would set off a chain of financial institution bankruptcies, the Federal Reserve partnered with JP Morgan Chase to provide a $29.5 billion bailout for Bear Stearns. While there were many signals in the market before this event, the downfall of Bear Stearns marked the beginning of the oncoming financial crisis that would shake the financial system worldwide and result in a global recession.
