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IPFS News Link • Economy - Economics USA

Fed approves JP Morgan purchase of Bear Stearns bank

4-1-2008 • Reuters

The Federal Reserve Board gave its approval to JP Morgan Chase to purchase a banking unit of Bear Stearns. The Fed had helped orchestrate the JP Morgan takeover of Bear Stearns to sooth tensions on Wall Street but had not formally given a green light

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Reported By Powell Gammill

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