The Bear Stearns Situation - Your Views
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READER COMMENTS
1. 'The question now is whether Bear Stearns is a 'good buy', or just 'goodbye'.
2. 'This really is a case of cause and effect (or bad karma). Think back 10 years to the collapse of hedge fund Long Term Capital Management. Bear Stearns was the only major player who then refused to contribute to the bailout. Wall Street has long memories. When Bear itself needed support last week, only JPMorgan stepped forward - and that's surely only because CEO Jamie Dimon can sniff a good bargain'.
3. 'This is further proof that investment banking is a 'dog-eat-dog' profession. The sharks could smell blood in the water and went in for the kill. Surely another rival has now been taken out'.
4. 'Who's next ? Take a number. It's going to be long year'.
5. 'Why couldn't the UK authorities have moved so swiftly when it came to Northern Rock ?'
6. 'I used to work at Bear Stearns. I lasted 6 weeks. The role they sold me was completely oversold. They barely had any business in my area. I asked an IT guy to set up a voicemail facility on my phone, and he told me that I'd have to get an MD to sign off on it! I don't think that it's such a great loss'.
