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Bear Stearns Receives Funding

The Bear Stearns Cos. Inc. (NYSE: BSC) received a lifeline after getting a short-term funding commitment from JPMorgan Chase & Co. (NYSE: JPM) and the Federal Reserve Bank of New York. Shares of Bear Stearns plummeted 422.89 to $34.11 while JPMorgan stock eased 79 cents to $37.32.

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