It was only a matter of time before a book about Bear Stearns’ demise hit the bookshelves. Well, it’s not out yet, but it won’t be long. The tome, titled Bear Trap, is to be published in September by Brick Tower Books and has been co-authored by an anonymous former Bear exec.
The authors apparently lay much of the blame at the feet of Goldman Sachs. According to a story in the New York Post, Liz Claman, a Fox Business Network anchor, recently received a sneak peek of the galleys and commented on the angle the authors took: "Leaked e-mails out of Goldman Sachs gave enough people enough information to start heavily shorting the stock to make major money off Bear's demise.” One specific email apparently said that Goldman would no longer serve as a go-between for investors and Bear, leading to a panic.
Bear Trap is surely just the first of many books to come about the Bear Stearns collapse. So, who do you think will play Jimmy Cayne when the movie comes out?