Bear Up Against the Clock in Deal with JP Morgan

The Financial Times has in-depth coverage of Bear Stearns attempt to sell itself to JP Morgan to avoid seizing up with a lack of capital.  (h/t Calculated Risk).  The biggest fears are that a meltdown by Bear could trigger a system-wide run on banks and capital, acting as the oft-coined "tipping point" to a system-wide panic and subsequent crash. From the article about Bear Stearns lack of capital and sale to JP Morgan: The Federal Reserve, which on Friday provided emergency funds to Bear, and the Treasury are watching the situation closely. The authorities fear that, unless the crisis is resolved promptly, traders may turn their sights on other US and European banks. ?The Fed is most nervous about the systemic risk,? said one senior executive at Bear, the fifth largest investmen