Who Tried (And Failed) To Save Bear Stearns?


We're still going through the Vanity Fairarticle on Bear which blames, among others, Citadel, SAC Capital, and Goldman Sachs for bringing down the 85 year-old firm. But before we start pointing fingers, let's take a second to note the one party writer Bryan Burrough doesn't think had a hand in blowing the place to smithereens. And in fact, if I may be so bold as to read between the lines, seems to applaud for coming to BSC's rescue, albeit too late.

At 2:07 came shocking news: the first mention that New York governor Eliot Spitzer had had dealings with a prostitution ring. That news shoved Bear Stearns out of CNBC's headlines, much to the relief of the firm's executives.

That's right people-- Ashley Dupree. And, now that you mention it, Eliot Spitzer. Clearly his admission of patronizing hookers was timed. And try this one on for size-- how different do you think this whole thing would've played out if S 'n D had gone the extra mile and performed some sort of a duet that fateful day?
Bringing Down Bear [Vanity Fair]