UMaine Finance Professor Available to Discuss Economy, Wall Street
Contact: Robert Strong, 581-1986; George Manlove, 581-3756
The Fed took unprecedented action over the weekend to provide emergency financing to cash-strapped Bear Stearns through JPMorgan Chase & Co. after the financial services corporation agreed to buy its Wall Street rival Bear Stearns for $236.2 million in a deal that represents a stunning collapse for one of the world’s largest and most venerable investment houses.
On Friday the Fed announced a set of other unconventional steps to thaw out a credit market. Wall Street analysts say the bid to rescue Bear Stearns was more than just saving one of the world’s largest investments banks — it was a crutch for the U.S. economy and the global financial system. An outright failure could cause huge losses for banks, hedge funds and other investors to which Bear Stearns is connected.
The Fed’s actions come as fears are spreading that other financial houses also could be on shaky ground.
How will these fluctuations and continued slipping of the U.S. economy affect us in Maine? What’s at risk and why should we be concerned? Do these tumultuous times provide financial opportunity?
Finance professor and University of Maine Foundation Professor of Investment Education Robert Strong is available today to discuss these issues with members of the news media.
Strong’s current research interests center on investor asset allocation. He has published in journals ranging from the Journal of Finance and the Journal of Portfolio Management to the trade journals Pensions and Investments and Futures. His third book Derivatives: An Introduction was published in 2002 and is a commonly used text book for university investment and finance classes across the country.
Strong can be reached at 581-1986.