Adjustment of Macro Policies and Monetary Policies Effect After the Global Financial Crisis

Wei Liu ()
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Wei Liu: Renmin University of China

Chapter Chapter 2 in Research on China’s Monetary Policy System and Conduction Mechanism, 2023, pp 21-40 from Springer

Abstract: Abstract In the summer of 2007, Bear Stearns Cos., an American firm, declared bankruptcy and put its career into trouble due to a loss of US$1.5 billion when investing in derivatives of subprime loans by its two affiliated hedge funds (Bear Stearns Fund and High-Grade Structured-Credit Strategies Fund). Bear Stearns was ranked the fifth-largest investment bank at the time by Morgan Stanley, Goldman Sachs, Merrill Lynch, and Lehman Brothers in the United States. On March 16, 2008, J.P. Morgan Chase & Co. announced that it would buy Bear Stearns for a total price of approximately US$236 million (US$2 per share).

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-9060-1_2

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DOI: 10.1007/978-981-19-9060-1_2

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