It’s all about Bear Stearns this morning. A sampling of the blogosphere’s take on the speedy downfall of the once-powerful firm.
This is not a bailout or a rescue, but a 98% haircut for Bear shareholders. (Big Picture)
Echoes of the Panic of 1907. (Crossing Wall Street)
“The unhappy experience of Bear Stearns proves that it is a lack of confidence, not capital, that ultimately topples even the savviest financial institutions.” (DealBook)
Was Bear Stearns worth saving? (Real Time Economics)
“Banks need recapitalization. That requires transparency – and that someone takes losses.” (Capital Chronicle)
“This is about the most stunning collapse I’ve ever seen.” (Daily Options Report)
A timely trade in Bear Stearns puts. (TheStreet.com)
Bear Stearns’ book value seemingly has accrued to the benefit of J.P. Morgan. (Alea)
Measuring how far down the investment bank stocks are. (Bespoke Investment Group)
Be careful out there. Please look for a traditional linkfest later today.