Years ago, I the limited partner at Bear Stearns and Company in New York City. Every year, advise have a partner’s meeting, and I would personally attend as a matter of course. Now keep as their objective that we a trading firm, also another stylish brokerage resolute. Back then we didn’t do nearly systems investment banking that is performed by several of the majors with regard to Goldman, Merrill, and Lehman Brothers you will.
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Most individuals are not associated with it but Bear Stearns is the paramount fixed income trading firm on everything bar none, and it has been true for several generations. This makes recent events even more perplexing to understand.
Are all of Smith’s characters based on real everyone? “I was writing account from quarry experience. Al’s executive assistant was patterned after ladies I know in the corporate world. I’m about the board of their New York stock exchange that’s visited an acquisition mode. So that’s a world, the investment banking world, that I’m familiar considering. I’ve been in the financial world for a long time.
In some cases, the parents of these young people have lost their homes because of the they refer to as a Ponzi-scheme created by wall street bankers.
The second hedge fund was considered a more highly-leveraged version of Bear’s High -Grade structured Credit Strategies fund which was formed not too long ago. Both funds were managed by Ralph Cioffi, who right up until recent events took hold, had the reputation to become a MASTER at this game, along with the game is the subprime mortgage bond corporation.
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