ADVERTISEMENT

Bring back the RPT

giphy.gif
 
On March 14, 1879, Albert Einstein is born, the son of a Jewish electrical engineer in Ulm, Germany. Einstein’s theories of special and general relativity drastically altered man’s view of the universe, and his work in particle and energy theory helped make possible quantum mechanics and, ultimately, the atomic bomb.

einsteinhead.jpg
 
On March 14, 1879, Albert Einstein is born, the son of a Jewish electrical engineer in Ulm, Germany. Einstein’s theories of special and general relativity drastically altered man’s view of the universe, and his work in particle and energy theory helped make possible quantum mechanics and, ultimately, the atomic bomb.

einsteinhead.jpg
Interesting that Hawking died on the same day as Einstein's birthday.
 
Bear Stearns collapses, sold to J.P. Morgan Chase

On this day in 2008, Bear Stearns, the 85-year-old investment bank, narrowly avoids bankruptcy by its sale to J.P. Morgan Chase and Co. at the shockingly low price of $2 per share.

With a stock market capitalization of $20 billion in early 2007, Bear Stearns seemed to be riding high. But its increasing involvement in the hedge-fund business, particularly with risky mortgage-backed securities, paved the way for it to become one of the earliest casualties of the subprime mortgage crisis that led to the Great Recession.
 
ADVERTISEMENT
ADVERTISEMENT