Barry Ritholtz has owned up to being way too optimistic on Bear and is now live blogging the event. He’s also got a great new take on US housing.
Calculated Risk notes how former Bear Stearns CEO “Ace” Greenberg responded on CNBC on Monday to rumours of the Bear liquidity crisis:
“It’s ridiculous, totally ridiculous.”A lovely chart here from Alea, catching Bear shares in intra-day agony. In fact, it’s almost art.
Dealbook notes that Bear is now back to levels of a decade ago.
Bess Levin at dealbreaker is in a typically funny tiss. Apparently, the reason Alan Schwarz didn’t explain all this earlier in the week is because he was in Palm Beach, probably had too much sun, and just plain forgot to mention what was up.
Fintag shares his phrases of the moment
Counterparty risk.
Securitization.
Concentration risk.
Ill informed investors.
Market depth and price discovery.
My dollars are worthless.
Gold looks nice against my skin.
Electric cars are cool.
Felix Salmon says, simply, that Bear could go bust, while the RGE Monitor has a timeline of increasingly bearish news
Robert Peston, meanwhile, explains to his British readers how Bear is America’s Northern Rock
