TUESDAY MARCH 11
Liquidity Alert: What Gives, Bear Stearns?

We would be lying if we claimed Wall Street was having a great day even before the Spitzer kibitzer. Rumors were already flying that potential liquidity bottlenecks could now be plaguing Bear Stearns. While the bank denies there’s any problem, it seems that credit indices are widening sharply as the cost of protecting bank bonds against default reach record levels. Time to prepare for more shock waves?

March 2008

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