Which investment bank was acquired by JPMorgan Chase in 2008?

Which investment bank was acquired by JPMorgan Chase in 2008? JPMorgan Chase acquired Bear Stearns.

Bear Stearns, founded in New York in 1923, became a major investment bank and a prominent player in mortgage securities and prime brokerage. As the 2007–08 financial crisis intensified, losses and funding pressure caused a rapid collapse in investor confidence. In March 2008, JPMorgan Chase agreed to rescue the firm with strong support from the Federal Reserve and the US government.

JPMorgan Chase announced the deal on March 16, 2008, and completed the merger on May 30. The transaction gave JPMorgan Chase Bear Stearns’s prime-brokerage platform and expanded its mortgage, securities, and investment-banking businesses. The Federal Reserve Bank of New York also took control of a portfolio containing about $30 billion in troubled assets connected with the rescue.

The other options refer to different crisis-era stories. Merrill Lynch was acquired by Bank of America, Lehman Brothers filed for bankruptcy, and Wachovia was acquired by Wells Fargo. JPMorgan Chase later acquired Washington Mutual in September 2008.