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Downfall of a giant – The Beginning of the End of The Bear

Riding the storm was something Bear Stearns had done many times in its 85-year history, but it took only a few days, an increasing sense of panic, and a critical email, to spell the end for this one-of-a-kind investment bank that ended up being taken over for a pittance.

The_Fall_of_Bear_Stearns_The_Bear_Trap_book

Bear Trap – The Fall of Bear Stearns and the Panic of 2008 (Brick Tower Press, New York) was written, with the help of Andrew Spencer, by an anonymous senior executive of Bear Stearns whose identity will not be revealed until the release of this dynamic book on September 22, 2008.

The writer takes the reader step-by-step on the downward spiral of this giant corporation beginning March 10, 2008 through its final demise and takeover. Find out from someone on the inside if the company was really headed down the drain financially or was it all a big rumor-mongering, manipulative ploy to allow some far-sighted predator to make a killing? How did the giant respond when financial institutions they had traded with for years asked if Bear had the cash to execute their trades? Was the challenge of their financial liquidity borne of facts or engineered rumor? This book takes you through each nerve-wracking minute of every action that took place in the offices of Bear Stearns during its final days. In a business based on confidence, when that confidence fades, so does the business. The Company was scrambling to prove their counterparties were being paid, trades were clearing and business was picking up – surely not the normal scenario for an investment bank’s collapse. On the day prior to the announcement, a member of senior management was in total disbelief when he realized that “ … a cup of coffee at Starbucks was now actually more expensive than a share of Bear stock.”

This tell-all book is a must-read for anyone who wants to know how fortunes were made and lost virtually overnight, placing blame where it belongs for the responsibility of ‘killing the Bear.’ Feel the pain of the employees when they realize they have lost it all: “The Bear was dead. The carcass was rotting in the street as people hurried past, lest they catch whatever it was that had killed the Bear.”

 

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