By: Bill Bamber and Andrew Spencer
Bear, Stearns & Co. Inc., a storied Wall Street firm with a maverick reputation, had endured many crises in its 85-year history. Nothing, however, could have prepared the firm for the sudden death spiral that would lead to its takeover for a pittance. In a dramatic showdown with J.P. Morgan and the Fed, this is the tragic story of how fortunes were made and lost. Bill Bamber, a senior executive at Bear Stearns, had a bird's-eye view of just what happened inside Bear's offices and on the trading floor that led to the most sensational financial crisis of our times.
Bamber describes the securities manipulations that served to precipitate the credit crisis ÌÎÌ__ÌÎå«Ì´å those same securities we see in our IRAs and 401Ks. He reveals for the first time how foreign demand of U.S. capital played a role in the Bear's massacre, and he provides an insider's view of the unprecedented actions taken by the Treasury and Federal Reserve to avoid a worldwide financial crisis.
Bill Bamber was a senior executive with responsibility for one of Bear, Stearns & Co.ÌÎÌ__ÌÎå«Ì´Ìàs major derivatives groups in New York. He has been a derivatives practitioner for nearly two decades, leading the development of new financial products on two continents and in both developed and emerging markets. He helped create some of the worldÌÎÌ__ÌÎå«Ì´Ìàs most innovative structured financial products and is a chartered financial analyst.
Andrew Spencer served on the editorial board of N Magazine based in Nantucket, Mass., for four years prior to joining the Creative Management Group Agency as vice president of communications and director of the CMG Image Marketing and Literary divisions. He has presented his own research-based work at over 30 academic conferences worldwide, and his work has been published in a variety of academic collections. He served for two years on the editorial staff of Studies in Browning and His Circle and was the lead pre-publication editor for The Barretts of Jamaica: The Family of Elizabeth Barrett Browning. Mr. Spencer has also been a regular contributor to the Nantucket Independent and YesterdayÌÎÌ__ÌÎå«Ì´Ìàs Island newspapers, as well as to Home and Garden: Nantucket, The Nantucket Guide and Waterfront magazines.
Hardcover: 350 pages
Publisher: Brick Tower Books; 1st edition (September 15, 2008)
NOTE: Purchasing "Bear Trap (Book)" from WND's online store also qualifies you to receive three FREE issues of WNDÌÎÌ__ÌÎå«Ì´Ìàs acclaimed monthly print magazine, Whistleblower. Watch for the FREE offer during checkout.