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Title: Bear Stearns got what it deserved
Category: Other
Blog Entry: During the height of the sub-prime crisis, the top dogs at Bear Stearns were away from their offices playing bridge. They let things get way out of hand. Their risk management process was a joke. They leveraged themselves to the hilt on a one way bet on sub-prime debt. The bet blew up in their faces.

With the stock being sold at $2 to JP Morgan, it showed that Bear Stearns really had no clothes. It has already lost its shirt. The Bear executives should not get anything for destroying wealth of investors and shareholders. I say good riddance.