In 1992, the company included new industries into its fleet of providing consultation and analysis services to its clients, machinery stocks, biotechnology and the capital industry. The company also became a dominant party in the clearance of trades for other brokers and brokerages.
One of the company’s major strategic targets was to ensure its presence in major markets across the globe, which resulted in its focus towards new emerging economies in Asia and Latin America. The company started its operations in Asia with a representative office in Beijing in 1994, the addition of which, being close to Bear Stearns’s Hong Kong headquarters was recognized as an important milestone and a show of respect to China as a formidable challenge to the US stance as the sole world economic superpower. The company again faced the music when it became the face of negative publicity due to a SEC investigation initiated to determine its role as a clearing broker for A.R. Baron, already gone bankrupt in 1996 and later defrauding its customers of $75 million (Larry Allen Bear, 2007). Bear Stearns was accused of crossing its boundaries in its role by continual processing of trades, loaning money, and extending credit to its client although knowing through piling up evidence that the firm, already in serious financial jeopardy, was behind stock prices manipulation and unauthorized trading while marauding customer’s accounts
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