Word: rosee
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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...
...Rose added that the method of short-term financing became unsustainable as the credit crunch became overwhelming...
...Rose added that JP Morgan had to balance the risks of hidden liabilities with the potential for financial gain...
...Rose also said that merging the two firms would present additional challenges...
...Talented employees will go elsewhere and clients who don’t want to deal with the turmoil will look to other firms to do business,” Rose said. “In addition, there are big cultural differences between Morgan and Bear, and solving these issues is a big exercise of time and attention...