Corporate & Securities Law

Only a short post is necessary here - A picture, after all, tells a thousand words.

According to the "official story" from Bear Stearns top executives -- Jimmy Cayne, Alan Schwartz, Warren Spector, Sam Molinaro -- almost no one (and certainly not Bear Stearns) was able to foresee the extent of the housing bubble and/or the possibility of disastrous consequences...

Well, here is the first page of a report Bear Stearns published in May 2006 (nearly two years before the investment bank failed).  

Draw your own conclusions.

Feedback invited...

Wall Street Law Blog; A Publication of The Sherman Law Firm