Recent Blog Posts
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Ooops
Nov 23 200912:01 am EDT -
The Era of the Renminbi Is at Hand
Nov 20 20092:55 pm EDT -
Computer Glitch Snarls Air Traffic
Nov 19 200910:29 am EDT -
Dollar Doldrums? What Dollar Doldrums?
Nov 19 20098:48 am EDT -
American Express Makes a Revolutionary Deal
Nov 18 200912:05 pm EDT -
Calpers Puts Pressure on Private Equity Funding and Fees
Nov 18 200910:27 am EDT -
Madoff Makes Millions (for Others)
Nov 18 20096:04 am EDT -
Lazard Looks Within Its Ranks for New Chief
Nov 17 20091:44 pm EDT -
A Brutal Morning for Geithner
Nov 17 20098:02 am EDT -
GM to Start Payback
Nov 16 20095:57 am EDT
Jun 23 2008 12:00am EDT
Kicking Bear When It's Down
You know it's a bad day when your company -- or you, personally -- become the punch line of a joke on a late-night talk show.
It was Bear Stearns' turn on Friday, when Jay Leno devoted part of his The Tonight Show monologue to the arrest of two of the defunct firm's hedge-fund managers.
"Yesterday, a bunch of these Bear Stearns hedge funds guys were arrested for shady business practices. Talk about turning lemons into lemonade, today Bear Stearns ... announced they're opening a new division specializing in bail bonds.".
"The government says they're focusing on some e-mails that show these guys may have given bad investment advice. For example, a lot of the e-mails began, 'I'm a diplomat currently living in exile in Nigeria...' "
by Mark Stein
