Ebook: Bear Trap: The Fall of Bear Stearns and the Panic of 2008

Bear, Stearns & Co., a storied Wall Street firm with a maverick reputation had endured many crises throughout its 85-year history. Nothing however could have prepared the firm's top leadership and pool of talented traders for the sudden death spiral that would leave the firm being taken over for a pittance. In one dramatic showdown with JP Morgan and the Fed this is the story of how fortunes were made and lost. The authors of Bear Trap describe what happened within Bear's walls and on the trading floor, events that resulted in the most sensational financial crisis of our times. They recount in detail the chain of events that led to the downward spiral - from both Bear's point-of-view and from the overall world financial marketplace's. They describe the securities manipulations that served to precipitate the credit crisis-those same securities we see in our IRAs and 401Ks. The authors reveal for the first time how foreign demand of US capital, too, played a role in the Bear's massacre, and they provide an insider's view of the unprecedented actions taken by the Treasury and Federal Reserve to avoid a world-wide financial crisis.