Bear Stearns Shrugs Off Subprime Worries

The Wall Street firm overcame weakness in its mortgage biz thanks to its strength in fixed-income

Since Bear Stearns (BSC) does much of its business in debt markets including mortgage lending, investors have worried about the New York financial services firm during recent weeks as the subprime market melts. But Bear Stearns has a diverse mix of businesses. The company on March 15 posted stronger profits during the three months ended Feb. 28, as its sales improved in other businesses besides mortgages.

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