On Shifting Ground

This week marks the 10th anniversary of the collapse of Bear Stearns, the first of several large investment banks on Wall Street to fall in 2008. Its eventual sale at $10 a share to JP Morgan (down from $159 a year earlier) set off a spiraling loss of confidence that eventually led to the global financial crisis. Ten years later we unpack the forces that led to Bear Stearns’ downfall. What lessons have we learned and are we at risk of another global financial catastrophe? William Cohan, former investment banker and author of “House of Cards” – a chronicle of the Bear Sterns collapse, and David Wessel, senior fellow in economic studies at the Brookings Institution, are in conversation with Ray Suarez, former chief national correspondent for PBS Newshour.

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Direct download: 03_12_18_Bear_Stearns.mp3
Category:News & Politics -- posted at: 7:00am PDT