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JPMorgan: Bear Stearns well run with good risk controls

NEW YORK
Mon Mar 17, 2008 12:39am EDT

NEW YORK (Reuters) - JPMorgan Chase said on Sunday that it found Bear Stearns Inc. a well run bank with good risk control.

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A JPMorgan executive said on a conference call that 200 employees scrutinized Bear Stearn's books over three days. JPMorgan announced earlier it would buy Bear Stearns for about $2 a share.

(Reporting by Joseph Giannone and Megan Davies; Editing by Tomasz Janowski)
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