Bear deal done to avert disaster, Fed says
The Federal Reserve Board bailed out The Bear Stearns Cos. Inc. to avert a disaster that would have wreaked havoc on the financial markets.
The Federal Reserve Board bailed out The Bear Stearns Cos. Inc. to avert a disaster that would have wreaked havoc on the financial markets, according to the minutes of the emergency meeting that it held to discuss the beleaguered investment bank.
Members of the Fed believed that because of the R
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