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In Closing, Do As I Say, Not As I Do (That Would Not Be Good For Business, If Ya Know What I Mean)

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[Letter from J-Cay to employees, April 2005. Click to enlarge.]


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Should Bear Stearns' CFO Not Have Told Investors Liquidity Was Rock Solid When Internally Telling Colleagues The Company Was As Dry As The God Damn Sahara?

It's almost as though "liquidity is very strong" and "we need more liquidity ASAP" aren't totally synonymous.