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Bear Stearns nose dives on rescue plan: Shares of embattled broker plunges by as much as 53 percent after JPMorgan and NY Fed announce announce plan to provide funding. NEW YORK (CNNMoney.com) -- Bear Stearns shares lost more than half their value at one point Friday after JPMorgan Chase and the Federal Reserve Bank of New York announced plans to provide short-term financing to the battered Wall Street firm. Bear Stearns (BSC, Fortune 500) shares plunged as much as 53% before moving off their lows trading nearly 33% lowern (sada opet blizu 50%) . In a statement, Bear Stearns CEO Alan Schwartz said that despite attempts to confront and dispel these rumors, the company's liquidity position had "significantly deteriorated" in the last 24 hours. |