Bear refused to take part in the LTCM rescue ten years ago, which is unusual, since most firms don't want to alienate the central bank. I wonder if the Fed didn't have a little revenge on its mind. Doug
this is the what i was starting to think, bear stearns was punished for individualist false consciousness or lack of class-consciousness.
as bloomberg reported today:
"``Lehman won't go the way of Bear Stearns,'' said Jon Burnham, chief executive officer of Burnham Securities, which manages about $3 billion including JPMorgan shares. ``Bear Stearns is a maverick firm. Lehman is liked.''
and the financial ruling class doesn't forget nor forgive. it cannot afford it for the sake of its status, recognition and survival. no memory, no power. history matters...
ulisse
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