jpmorgan chase

The Senate took a long, hard look at JPMorgan Chase's planned purchase of Bear Stearns on Thursday, grilling both executives and federal regulators who helped shepherd the controversial deal.

Federal regulators and top executives at JPMorgan Chase and Bear Stearns told lawmakers Thursday that the 11th-hour deal between the two firms prevented a collapse that could have inflicted serious damage to the American financial system and the broader economy.

Top execs at both JPMorgan Chase and Bear Stearns told Senate lawmakers Thursday that the 11th-hour deal between the two firms, crafted with the aid of federal regulators, prevented what could have been serious damage to the American financial system and the broader U.S. economy.

Congress on Thursday will scrutinize JPMorgan Chase's controversial acquisition of Bear Stearns and quiz top executives from both firms as well as the regulators who helped engineer the rescue.

Key senators are asking questions about the recent pennies-on-the-dollar sale of investment firm Bear Stearns to JPMorgan Chase, a transaction made possible after the Federal Reserve backed it with billions in taxpayer dollars.

Stocks jump after JPMorgan Chase boosts its bid for Bear Stearns to $10 per share. Existing-home sales show their first gain in seven months.

S&P lowers its outlook on financials. Tiffany weathers the U.S. slowdown. 

But markets experience big gyrations after Sunday's fire sale of Bear Stearns to JPMorgan Chase. Gold closes above $1,000 for the first time.

After offering aid to banks over the weekend, the Fed is expected to cut key rates on Tuesday.

Markets are roiled after JPMorgan Chase agrees to buy Bear Stearns for $2 per share. The Fed makes another move to restore market confidence.

Gold closes above $1,000 for the first time.

Markets are spooked after JPMorgan Chase makes a deal to purchase Bear Stearns for $2 per share, although the Fed steps in to restore confidence.

News that the financial-services company is getting financing from JPMorgan Chase shakes the markets, overshadowing a better-than-expected CPI report.

Oil retreats slightly, while gold surges to a record high. Consumer confidence falls to a 16-year low.