Bear's buyout, while perhaps reassuring in that it didn't result in a bankruptcy filing, was nonetheless an unwelcome development as it makes clear the extent to which credit markets are struggling to operate. The pain for investors in Bear Stearns, which succumbed to soured bets on now troubled mortgages for borrowers with poor credit, will be sizable. JPMorgan is acquiring Bear, including its midtown Manhattan headquarters, for about 1 percent of what the investment bank was worth little more than two weeks ago. The 85-year-old company has 14,000 workers worldwide