Word: beare
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...It’s interesting to look back, seeing how the challenge for Bear was less about being undercapitalized than whether it had sufficient liquidity for everyday liquidity needs,” said Rose, who was the former head of the Global Investment Banking and the Global Equities Divisions at JP Morgan...
...months after the events that led to the collapse of Bear Stearns, two Harvard Business School professors are working on a case that analyzes what happened during those eventful days of mid-March...
...events that led to the collapse of Bear Stearns represent one of the focal events in American financial history,” said Bergstresser, an assistant professor at the Business School and one of the case’s co-writers. “Until the market events of last week, the collapse of Bear was the major financial event of the last 10 years...
...August 2007, two internal hedge funds, intended to take bets in the subprime mortage market, collapsed, despite being provided with $3.2 billion by Bear CEO James Cayne to bail out both the funds. After the collapse of the funds, Bear continued to lose money throughout the fall and winter, as the value of mortgage-related assets continued to deteriorate...
...into a situation where their financial policy relied on being able to rollover certain types of short-term financing,” said Bergstresser, who served as the former head of European Credit Research at Barclays Global Investors. “When the perception arose in the markets that Bear was having trouble, the fear of Bear’s failure became a self-fulfilling prophecy as Bear could no longer rollover their short-term financing...