Thursday, September 27, 2007
Bear Stearns stock rose yesterday on reports that a group of investors led by Warren Buffett might buy a stake in the investment firm. The investment bank reportedly is talking to other possible buyers as well. Bear Stearns has been hit hard by the credit market collapse and had to shut down two hedge funds because of it. Buffett rescused another investment bank, Salomon Brothers, in 1991 when John Gutfreund resigned because of a bond trading scandal. WPost, Buffett May Buy Stake in Bear Stearns; NYTimes, Buffett Said to Consider Bear Stake.