FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

CAYNE JAMES E 		2. Issuer Name and Ticker or Trading Symbol

BEAR STEARNS COMPANIES INC [ BSC ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      __ X __ Other (specify below)
Chairman of the Board
(Last)          (First)          (Middle)

C/O BEAR, STEARNS & CO. INC., 383 MADISON AVENUE 		3. Date of Earliest Transaction (MM/DD/YYYY)

5/30/2008
(Street)

NEW YORK, NY 10179
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Emp. Stock Option (Right to Buy)   $73.75   5/30/2008     D        256143    12/15/2006   12/15/2013   Common Stock   256143.00     (9) 0.00   D  
 
Emp. Stock Option (Rt. to Buy)   $116.50   5/30/2008     D        56573    12/22/2008   12/22/2015   Common Stock   56573.00     (10) 0.00   D  
 
Emp. stock option (rt. to buy)   $165.32   5/30/2008     D        35788    12/20/2009   12/20/2016   Common Stock   35788.00     (11) 0.00   D  
 
Employee Stock Option (Right to Buy)   $38.75   5/30/2008     D        72427    1/10/2003   1/10/2010   Common Stock   72427.00     (12) 0.00   D  
 
Employee Stock Option (Right to Buy)   $49.63   5/30/2008     D        108856    12/11/2003   12/11/2010   Common Stock   108856.00     (13) 0.00   D  
 
Employee Stock Option (Right to Buy)   $56.88   5/30/2008     D        30581    12/17/2004   12/17/2011   Common Stock   30581.00     (14) 0.00   D  
 
Employee Stock Option (Right to Buy)   $64.00   5/30/2008     D        68000    11/30/2005   11/30/2012   Common Stock   68000.00     (15) 0.00   D  
 
Employee Stock Option (Rt. to Buy 07)   $102.65   5/30/2008     D        168585    12/28/2007   12/28/2014   Common Stock   168585.00     (16) 0.00   D  
 
CAP Units (2002)     (1) 5/30/2008     D        1182    11/30/2007   11/30/2007   (2) Common Stock   1182.00     (3) 0.00   D  
 
CAP Units (2003)     (1) 5/30/2008     D        173079    11/30/2008   11/30/2008   (2) Common Stock   173079.00     (4) 0.00   D  
 
CAP Units (2004)     (1) 5/30/2008     D        105749    11/30/2009   11/30/2009   (5) Common Stock   105749.00     (6) 0.00   D  
 
CAP Units (2005)     (1) 5/30/2008     D        94959    11/30/2010   11/30/2010   (5) Common Stock   94959.00     (7) 0.00   D  
 
CAP Units (2006)     (1) 5/30/2008     D        90373    11/30/2011   11/30/2011   (5) Common Stock   90373.00     (8) 0.00   D  
 

Explanation of Responses:
( 1)  This type of derivative security typically does not have a conversion or exercise price
( 2)  The shares of common stock underlying the CAP Units will be distributed on or about 11/30/2008
( 3)  The CAP Units were converted in the merger into 257 CAP Units of JPMorgan Chase.
( 4)  The CAP Units were converted in the merger into 37,649 CAP Units of JPMorgan Chase.
( 5)  In connection with the merger, the deferral period for the CAP Units will be accelerated and the shares of common stock underlying the CAP Units will be distributed on or about 1/15/2009.
( 6)  The CAP Units were converted in the merger into 23,003 CAP Units of JPMorgan Chase.
( 7)  The CAP Units were converted in the merger into 20,656 CAP Units of JPMorgan Chase.
( 8)  The CAP Units were converted in the merger into 19,658 CAP Units of JPMorgan Chase.
( 9)  This option was converted in the merger into an option to purchase 55,718 shares of JPMorgan Chase common stock for $339.03 per share.
( 10)  This option was converted in the merger into an option to purchase 12,306 shares of JPMorgan Chase common stock for $535.56 per share.
( 11)  This option was converted in the merger into an option to purchase 7,784 shares of JPMorgan Chase common stock for $759.99 per shar
( 12)  This option was converted in the merger into an option to purchase 15,755 shares of JPMorgan Chase common stock for $178.14 per share.
( 13)  This option was converted in the merger into an option to purchase 23,679 shares of JPMorgan Chase common stock for $228.13 per share.
( 14)  This option was converted in the merger into an option to purchase 6,652 shares of JPMorgan Chase common stock for $261.48 per share.
( 15)  This option was converted in the merger into an option to purchase 14,792 shares of JPMorgan Chase common stock for $294.21 per share.
( 16)  This option was converted in the merger into an option to purchase 36,672 shares of JPMorgan Chase common stock for $471.89 per share.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
CAYNE JAMES E
C/O BEAR, STEARNS & CO. INC.
383 MADISON AVENUE
NEW YORK, NY 10179 		X

Chairman of the Board

Signatures
/s/ Cayne, James E. 6/2/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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