- Can Apple Top Microsoft as Most Valuable Tech Firm?
- Buffett to Sell Stakes in Norfolk Southern, Union Pacific
- Do You Know Your Coca-Cola Myths?
- Electronic Arts Beats Street, Announces 1,500 Job Cuts
- Time Is Here to Look at Overseas Stocks: Bill Gross
- Home Prices Start to Stabilize In the US as Sales Pick Up
- Flaw in US Data Overstates Growth, Productivity
- Priceline Crushes Profit Forecasts; Shares Jump
- 'Modern Warfare 2' May Be Biggest Event This Year
- Warren Buffett to Sell Stakes In Union Pacific & Norfolk Southern
- Nov. 9: Unusual Volume Leaders
- The Battered Businesses Behind Housing
- Modern Warfare 2's Record-Breaking Launch
- Merck’s Mega-Monday Morning
- Why are Traders Bullish on This Food Company?
- Profiting From Natural Gas: Strategists
- S&P Stocks Trading at New 52-Week Highs
- Shopping for Answers
MOST SHARED
- Future of Marketing
- Home Prices Start to Stabilize In the US as Sales Pick Up
- Dow Up Over 100 After G20 Stimulus Pledge
- Oil Tomorrow
- Israel: Leader of Business Innovation
- Priceline Crushes Profit Forecasts; Shares Jump
- Dow Industrials at New Highs—But Other Indices Lag
- Rock Band Weezer Uses Snuggie to Promote New Album
- 'Modern Warfare 2': Biggest Entertainment Event of 2009?
Text Size 
About 60 protesters opposed to the Federal Reserve's help in bailing out Bear Stearns entered the lobby of the investment bank's Manhattan headquarters Wednesday, demanding assistance for struggling homeowners.
Demonstrators organized by the Neighborhood Assistance Corporation of America chanted "Help Main Street, not Wall Street" and entered the lobby without an invitation for about half an hour before being escorted out by police.
"There are no provisions for homeowners in this deal. There are people out there struggling who need help," said Detria Austin, an organizer at NACA, an advocacy group for home ownership.
Bear Stearns employees were alternatively amused and perplexed, taking pictures on their cell phones.
"Homeowners, that's more than $1 trillion (in mortgage debt), you're crazy," one man in a suit screamed at a protester on the street.
On March 16, JPMorgan Chase [JPM
Loading...
()
] said it would acquire its rival the Bear Stearns [BSC
Loading...
()
] for $2 per share, in a deal brokered by the Federal Reserve aimed at heading off a bankruptcy and a spreading crisis of confidence in the global financial system.
On Monday, JPMorgan raised its offer to about $10 a share to appease angry stockholders who vowed to fight the original deal.
As part of the deal, the Fed agreed to guarantee up to $29 billion of Bear Stearns assets.
The agreement has raised concerns that the US government is prepared to help rescue a failing Wall Street bank while declining to bail out millions of home owners facing the possibility of foreclosure.
Print
Email
- Do free market libertarians really believe what they say about ethics and shareholder value? The Big Money takes a look.
- Cramer did the research and found eight stocks that lead the pack. Read on to get his top picks.
- On the anniversary of the fall of the Berlin Wall, many in the former Eastern Bloc recall communism fondly.
- Software, biotech firms, even banks are watching a particular Supreme Court argument today.
- From politicians to CEOs to companies, here's your chance to vote for the winners and losers of 2009.
- A new sinister Internet viruses can turn you into an unsuspecting collector of child pornography.
Data is a real-time snapshot *Data is delayed at least 15 minutes