BAILOUT: JPMorgan Chase will lend Bear Stearns money for 28 days, with a backup guarantee from the Federal Reserve Bank of New York. No one has disclosed how large the financing is.
NO CASH: Bear Stearns says it ran into problems within 24 hours amid a spike in demand from people trying to get their cash out of the firm. Earlier in the week Bear denied rampant market speculation that it had cash problems.
PLUNGING VALUE: As of midday Friday, Bear Stearns had lost more than $5 billion in market value and was trading at its lowest point in nine and a half years. The company said it hired Lazard to help it explore alternatives.

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