I have a piece in the current issue of New York Magazine on the downfall of Bear Stearns. Last Monday, stunned and angry Bear Stearns employees arrived at the firm’s Madison Avenue offices to absorb the news that JP Morgan had bought their 85-year-old bank for a mere 2 bucks a share. “I lost a lot of money,” one Bear staffer told me. “It has felt like an Enron, but without the fraud.”
Read the full piece here.