Bear Stearns posts $854 million loss

Bear Stearns, which recently halted loan making in Irvine, reported today a quarterly loss of $854 million, much bigger than analysts expected, reports Reuters. Here's more... It was the first loss in the company's history, and the bank decided top executives would not receive bonuses. Bear Stearns said it took a $1.9 billion write-down in the quarter [...]