PART 2 - SECURITIES FRAUD AT BEAR STEARNS - A SPECIAL WALL STREET LAW BLOG SERIES
Only a short post is necessary here - A picture, after all, tells a thousand words.
According to the "official story" from Bear Stearns top executives -- Jimmy Cayne, Alan Schwartz, Warren Spector, Sam Molinaro -- almost no one (and certainly not Bear Stearns) was able to foresee the extent of the housing bubble and/or the possibility of disastrous consequences...
Well, here is the first page of a report Bear Stearns published in May 2006 (nearly two years before the investment bank failed).
Draw your own conclusions.
Wall Street Law Blog; A Publication of The Sherman Law Firm