Markets Volatile after Fed Moves

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In a frantically arranged deal to avoid bankruptcy this weekend, the 85 year-old investment bank Bear Stearns was sold to JP Morgan Chase at a mere $2 a share with the Federal Reserve stepping in to guarantee Bear Stearns enormous trading obligations. Michael Patterson reports on the US stock market for Bloomberg.

Credits

Guest:
Michael Patterson - US Stock Market Reporter, Bloomberg

Host:
Lawrence O'Donnell

Producers:
Christian Bordal, Katie Cooper, Sonya Geis