0.10%QQQQ 44.63 
0.18%XLF 19.94 0.35%
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NEW YORK (AP) - Bear Stearns says clients have withdrawn 20 percent of the funds they entrusted with the investment bank, shrinking assets under management to $36 billion as of March 24, according to a Securities and Exchange Commission filing.
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The company had $45 billion in assets under management at the end of its fiscal year on Nov. 30, 2007.
The investment bank, which is being taken over by JPMorgan Chase for $10 per share, nearly collapsed after bad bets in the mortgage market dried up its liquidity and severely deteriorated its ability to generate earnings.
In the filing Friday, Bear Stearns says it faced a "significant liquidity crisis" the week of March 10 that "seriously jeopardized its financial viability."
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