[gooberhead320]

was an amazing company. the bonds repo desk alone was dealing with $160 BILLION, yes billion, at any given point. and they were borrowing up to 60 billion every day, just to pay it back in a couple days because they made their profit off of it that fast.

im reading a book called Street Fighters: The Last 72 Hours of Bear Stearns, the Toughest Firm on Wall Street. and its a good book so far.

the top managers had to of been making unbelievable amounts of money a year


just thought i'd share

[2006GTARPD3]

:whogivesafuck

[BuRnIn_YoUrS]

hey mister you be nice or definately no hood pics!

[1FastFox]

Theres a reason Bear Sterns went under...

For those who dont know, the reason they failed is because they were passing out these home loans right and left to anyone who could sign their name ( which also led us into the housing crissis we are just now getting out of ). But then people started defaulting on their loans ( because they took out a loan for a 250k house when they only made 45k/year simply because people like bear stearns let them ) and all of a sudden all these note BS held werent worth the paper they were written on and BS had to sell them off at a fraction of their value or invested amount just to cut their losses pay back the people they borrowed money from... It didnt take long before no money was coming in and alot of places had their hands out for the money owed to them. I think BS was a HUGE contributor to the whole economic disaster we just went through.

[gooberhead320]

Originally Posted by 1FastFox Theres a reason Bear Sterns went under... For those who dont know, the reason they failed is because they were passing out these home loans right and left to anyone who could sign their name ( which also led us into the housing crissis we are just now getting out of ). But then people started defaulting on their loans ( because they took out a loan for a 250k house when they only made 45k/year simply because people like bear stearns let them ) and all of a sudden all these note BS held werent worth the paper they were written on and BS had to sell them off at a fraction of their value or invested amount just to cut their losses pay back the people they borrowed money from... It didnt take long before no money was coming in and alot of places had their hands out for the money owed to them. I think BS was a HUGE contributor to the whole economic disaster we just went through.

oh the definitely were a huge contributor. they had so many banks that were going through them. they were the ones that were handing out the loans and BS just gave the banks the money. word spread really fast that BS was in a tough time, to say the least.

1ff, is Alan Schwartz still the CEO? do you know? im curious to see if he was let go when the became part of JP Morgan