EXHIBIT 23.1

INDEPENDENT AUDITORS' CONSENT


We consent to the incorporation by reference in this Registration Statement of
The Bear Stearns Companies Inc. on Form S-4 of our reports dated August 26,
1996, appearing in and incorporated by reference in the Annual Report on Form
10-K of The Bear Stearns Companies, Inc., for the year ended June 30, 1996, and
to the reference to us under the heading "Independent Public Accountants" in the
Prospectus, which is part of this Registration Statement.

DELOITTE & TOUCHE LLP

February 5, 1997
New York, New York