Five years ago this weekend the venerable Wall Street bank Bear Stearns negotiated its sale to JP Morgan, becoming the first major casualty of the financial crisis and leaving its employees to seek out new jobs.

JP Morgan announced on Monday, March 17, 2008 that it would acquire Bear Stearns for $2 a share, ending the latter's 85-year history as an independent bank. The decision was taken after Bear Stearns fell victim to intense concern in the markets surrounding its ability to fund itself.