Fed Sells Last of Bear Stearns Assets, Closing Chapter of Crisis

The Federal Reserve said it completed the sale of securities acquired a decade ago during the rescue of investment bank Bear Stearns Cos., closing a chapter in the history of the financial crisis with a net gain of $2.5 billion to the U.S. public.

The New York Fed bank said in a statement Sept. 18 that the remaining securities in vehicle Maiden Lane LLC were sold over the last several months and the final sale concluded in the last two weeks. The Fed said it will keep “minimal cash” in Maiden Lane to meet expenses and ensure an orderly wind-down. ...