Bear Stearns Denies Liquidity Rumors
March 11, 2008 // Franchising.com // NEW YORK – New York – The Bear Stearns Companies Inc. today denied market rumors regarding the firm's liquidity. The company stated that there is absolutely no truth to the rumors of liquidity problems that circulated today in the market.
Alan Schwartz, President and CEO of The Bear Stearns Companies Inc., said, "Bear Stearns' balance sheet, liquidity and capital remain strong."
Bear Stearns will announce its first quarter 2008 financial results on Thursday, March 20, 2008, in a press release that will be issued prior to the opening of the New York Stock Exchange. The press release will also be available on the firm's Web site at www.bearstearns.com.
About Bear Stearns
Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) is a leading financial services firm serving governments, corporations, institutions and individuals worldwide. The Company's core business lines include institutional equities, fixed income, investment banking, global clearing services, asset management, and private client services. Headquartered in New York City, the Company has approximately 14,000 employees worldwide. For additional information about Bear Stearns, please visit the firm's website at www.bearstearns.com.