(NEW YORK The Associated Press): On the verge of a collapse that could have shaken the very foundations of the U.S. financial system, investment bank Bear Stearns Cos. was bailed out Friday by a rival and the federal government.
Foundations of capitalism are shaking but my friend Vuth Sem is fortunately unaware of that. On the same day Bear Stearns signed a merger agreement with JP Morgan Chase in a stock swap worth $2 a share I received the following message from Kiva.org:
Dear Roman Stanek,
We are very pleased to notify you that the business you have loaned to, Motor Taxi service run by Vuth Sem, has repaid the full amount of this loan $300.00. The payment was collected and deposited by Sive Chheng Sreng.