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Updated from 1:47 p.m. EDT
Bear Stearns(BSC Quote) on Friday said it had secured a short-term credit from the New York Federal Reserve through JPMorgan Chase(JPM Quote).
Bear's stock had been plagued with rumors of liquidity problems all week, but CEO Alan Schwartz had dismissed them earlier this week. JPMorgan will lend to Bear through a secured loan facility backed by the New York Fed's discount window. The facility has an initial period of 28 days, but Bear and JPMorgan did not specify an amount. ...
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