Bear Trap – The Fall of Bear Stearns and the Panic of 2008 (Brick Tower Press, New York) is a book that every individual, especially those in the financial quarters, should read.
Houston, TX, October 13, 2008 — We are in the year of economic panic. It suddenly seems to be the ‘norm’ for highly regarded and respectable financial giants to cease doing business, whether forced to do so by bankruptcy or takeover. As we all know, Lehman Brothers filed Chapter 11 Bankruptcy, and Merrill Lynch has been bought by Bank of America. Such was the case with Bear Stearns – a company that had ridden the storm many, many times in its 85-year history, yet it took just a few days, an increasing sense of panic, and a critical email to bring this
magnificent giant to its knees.
Bear Trap – The Fall of Bear Stearns and the Panic of 2008 (Brick Tower Press, New York) is a book that every individual, especially those in the financial quarters, should read. There is no doubt this book is controversial; The publisher released the book a week early due to the swelling market panic – and understandably so given the fact that the author, Bill Bamber, was a senior executive of Bear Stearns. Written with the help of Andrew Spencer, the author takes the reader on a step-by-step, downward spiral of this giant corporation that began March 10, 2008 through its final demise and takeover. The book predicts the fall of Lehman Brothers and Merrill Lynch and describes the transactions leading to their demise. The public will get to be on the “inside” and get the true facts from someone in the know whether the company was, in reality, financially finished or was it all a big rumor-mongering, manipulative ploy to allow a far-sighted predator to make a killing? A lot of the unanswered questions about the downfall of this historical institution get answered, and the reader gets to feel the fear of every action that took place in the offices of this corporate giant during its final days. In a business based on confidence – it is evident that when the confidence fades so does the business.
This book tells it all and places the blame where it rightly belongs. It imparts the anguish of employees when the reality sets in that they have lost it all – giving them no choice but to accept that “The Bear was dead.” In light of what is happening in the global, financial
community today – this book is a must-read! www.beartrapbook.com
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