March 16 - WSJ - There is never a good time to lose a job. Still, for Bear Stearns’ investment bankers, this would be one of the worst.
Bear Stearns is selling itself for only $236 million to J.P. Morgan Chase, a discounted valuation that is a pittance compared even to Bear’s already-emaciated $3.4 billion market capitalization. Such a cheap price doesn’t bode well for the future of the investment bank, or the people who work there.
The trouble is, this might be the worst market to find an investment-banking job since 1990. Layoffs are sweeping the Street, with many more to come, according to bankers. Read More.
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