[PDF] The Rise and Fall of Bear Stearns Full Collection - video dailymotionWall Street—according to former Bear Stearns CEO Alan "Ace" Greenberg—used to be a gentlemanly place where Midwestern boys made good, partners carpooled together to downtown offices, and the keys to success simply meant selling poor-performing stocks quickly. Greenberg puts forth this utopian history in his new book, The Rise and Fall of Bear Stearns, which he co-wrote with Mark Singer following the collapse of the storied bank. There Greenberg talked about his regrets, his beef with mortgage brokers, and the reasons why financial reform is unnecessary. Do you regret anything about your time at Bear Stearns? No, I don't. There's very little in my whole life that I'd do over again. There were a lot of forks in the road, and most of the time I took the correct one.
The Rise and Fall of Bear Stearns
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More remarkable by far than the fact that he was in the office on a Sunday is what he was doing: participating in a meeting of the board of directors to discuss selling the company he had worked decades to build for a fraction of what it had been worth as little as ten days earlier. In less than a week the value of Bear Stearns had diminished by tens of billions of dollars. As Greenberg recalls, "our most unassailable assumption—that Bear Stearns, an independent investment firm with a proud eighty-five-year history, would be in business tomorrow—had been extinguished. What was it, exactly, that had happened, and how, and why? After joining Bear Stearns in , Greenberg rose to become formally head of the firm in