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A daily round-up of economic news

A daily round-up of economic news:In the wake of last week's near fatal run on Bear Stearns, government officials worked to orchestrate the bank's purchase by JP Morgan Chase. JP Morgan will buy Bear for the rock bottom price of per share (or 0 million)--a stunning number for a firm that traded at 0 per share just a year ago. The Fed will support the purchase, providing billion in funding to help JP Morgan absorb Bear's "less liquid assets."The Fed's actions did not end there. The central bank reduced the discount rate by a quarter point in an effort to smooth Monday trading, and it opened its lending window to primary dealers in addition to commercial banks. A

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