CEO Alan Schwartz was briefly interviewed by CNBC’s award-winning journalist David Faber on Tuesday March 14th, and asserted that there “was no liquidity crisis” at Bear. Five days later, Bear Stearns’ management agreed to be acquired for $2/share by J.P. Morgan Chase, as an alternative to bankruptcy, as other money center banks had lost confidence in Bear Stearns solvency, in the face of recent mortgage bond related losses, and its high leverage. On 3/19, the “Wall Street Journal” said that Mr. Schwartz failed to share with CNBC viewers how the leadership team “had weathered past financial crises” and his “delivery made some experts wince.”
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Resources
- Center for Networking Excellence
- Forbes best small business blogs
- Knowledge at Wharton
- Small Business Blog Directory
- Small business resources at the New York Public Library
- The Crisis of Credit Visualized
- The Tiger Next Door – new documentary
- Ventureneer
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