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What Really Killed Bear Stearns?

vanityfair.com — Did Bear Stearns melt down -- or was it murdered? That is one of the big questions that Bryan Burrough, who co-wrote "Barbarians at the Gate," tries to answer in a long article in the August issue of Vanity Fair.

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  • AWBoy666, on 07/01/2008, -0/+3What an amazing article. The fall of Bear Stearns is one of the most complex and radical financial collapses in history. Imagine watching $30 billion dollars disappearing through the course of 5 days!

    I do have to make mention of the excellent interpretation of the Fed's involvement in the original bailout described in this article. The Fed acted in order to maintain the security and stability of the world financial system, as it is tasked to do. A collapse of the system would have destroyed trillions of dollars of wealth around the world and shaken the foundation of both the global economy and political environment. The Fed assuming some risk on both the bailout and the later purchase of Bear Stearns was in the best interests of every single American, contrary to what many may believe.
  • inactive, on 07/01/2008, -0/+1Great story. The warnings were out, but ignored. It was like Canseco's first book: "What a crock!", then "well whaddya know!"

    Daniel Faber should be run out of town, and never allowed near stock market reporting again...
  • 1gatsby1, on 07/15/2008, -0/+0Could the real story be that the Fed was in essence bailing out JP Morgan and that firms' exposure to counterparty risk because of Bear? Very possible...

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