Quote:
Originally Posted by Jamroll
This is all that subprime lending, isn't it? I think they need to do something to fully regulate the subprime market. It's having serious repurcussions all over the place.
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BearStearns was the leader in subprime lending / CDO offerings.
And that was their biggest mistake - they relied on it too much, so much so that their strength turned into their undoing.
The pace at which they fell is just mind-blowingly stunning. When I saw the news today morning I couldnt even speak for several minutes, I just was totally quiet. BearStearns was one of my clients at my previous job, I used to handle their Canadian IT / telecom infrastructure and related operations.