by Calculated Risk on 3/14/2008 10:15:00 PM

The WSJ has several followup articles on Bear Stearns. The first provides an excellent summary of the events leading up to the bailout. See WSJ: Fed Races to Rescue Bear Stearns In Bid to Steady Financial System

The story discusses how Bear Stearns, JPMorgan and the Fed regulators worked around the clock Thursday night to put together the bailout.

At about 5 a.m. Friday, regulators including New York Fed Chief Timothy Geithner, Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson and the Treasury under secretary domestic finance, Robert Steel, convened by conference call. At the end of the call at 7 a.m., the Fed had decided it would offer the loan.

A fascinating story.

The second key story suggests Bear Stearns will probably be sold within days. See the WSJ: It Is Tough to Value Bear, But It Had Better Sell Fast