Bringing Down Bear Stearns
By Bryan Burrough – Vanity Fair (Aug 2008)
On Monday, March 10, the rumor started: Bear Stearns was having liquidity problems. In fact, the maverick investment bank had around $18 billion in cash reserves. But soon the speculation created its own reality, and the race was on to keep Bear’s crisis from ravaging Wall Street. With the blow-by-blow from insiders, Bryan Burrough follows the players—Bear’s stunned executives, trigger-happy reporters at CNBC, a nervous Fed, a shadowy group of short-sellers—in what some believe was the greatest financial scandal in history.
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Previous blog posts on Bear Stearns:
Oh Boy, More on the Bear (11 Aug 2008)
Financial Truffles (20 Jun 2008)
Money & Markets – Week of 6.16.08
Kirby’s Letter to WSJ (30 May 2008)
The Next Shoe to Drop (20 May 2008)
The Most Profitable Economic Hit in History (13 May 2008)
Loaded for Bear? (12 May 2008)
A Question on Philanthropy (28 Apr 2008)