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The Last 72 Hours of Bear Stearns, the Toughest Firm on Wall Street
Portfolio Hardcover
May 2009
On Sale: May 12, 2009
256 pages
ISBN: 1591842735
EAN: 9781591842736
Hardcover
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Non-Fiction
The shocking fall of Bear Stearns in March 2008 set off a
wave of global financial turmoil that continues to ripple.
How could one of the oldest, most resilient firms on Wall
Street go so far astray that it had to be sold at a fire
sale price? How could the guys who ran Bear so aggressively
miscalculate so completely? In this vivid and dramatic narrative, Kate Kelly takes us
inside Bear’s walls during its final, frenzied 72 hours as
an independent firm. Expanding with fresh detail from her
acclaimed front- page series in The Wall Street Journal,
she captures every sight, sound, and smell of those three
unbelievable days. For decades, Bear had proudly recruited “P.S.Ds”— employees
who were poor, smart, and had a deep desire to become rich.
An elite family or Ivy League diploma didn’t matter. Were
you willing to do almost anything to make money for the
firm? Were you tough enough to be a street fighter? Bear’s leaders were arrogant and didn’t play nice. But
their style had made them a fortune, and had helped Bear
survive every crisis from the Great Depression to the
dotcom bubble. Yet as the subprime mortgage crisis began to brew, the
firm’s key executives descended into civil war. Kelly
reveals fresh, never-before-told details about the moves
that led to that brutal final weekend. With a style as riveting as it is enlightening, Street
Fighters is the definitive account of a once-great firm’s
demise, and the human folly that led to the worst financial
crisis since the 1930s.
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