Bear Stearns was created in 1923.

The 'S' stands for Stearns but there is no evidence of a connexion with the financial firm Bear Stearns - or is there??

Bear Stearns was deeply affected by the subprime mortgage crisis. The subprime mortgage crisis is a result of the sharp rise in mortgage delinquencies and foreclosures.

Bear Stearns' leverage (the money it borrowed) was so high (30x plus) that a "crisis of confidence" developed. Investors began withdrawing money from Bear and counter parties (their customers) stopped doing business with them - effectively their liquidity dried up. It was a classic Run on the Bank. Financial institutions foundations are based upon confidence and trust, so a healthy institution can become insolvent almost overnight. Due to the "run", Bear Stearns was forced to sell to JP Morgan at a fire sale price.

The ticker symbol for the Bear Stearns is BSC and it is traded on the New York Stock Exchange.