Question and answer

What happened to Bear Stearns?

It ran out of money.

Here is much more, via Felix Salmon, and at least you can say that the Sitzkrieg is over and the plot is starting to unfold.  And here’s a picture.

Addendum: "…Bear Stearns, which has a leverage ratio of over 30 to 1, meaning it
borrows more than 30 times the value of its $11 billion equity base."  Here is the link.


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