The Rise and Fall of Bear Stearns
Greenberg, former CEO and chairman of the board of Bear Stearns and vice chairman emeritus of J.P. Morgan Chase, and Singer (Funny Money), staff writer for theNew Yorker, chronicle the rise and monumental fall of financial behemoth Bear Stearns in this highly anticipated insider account. From his joining the firm in 1949 through the sharp decline of its stock in 2008 to the potential bankruptcy, Greenberg shares not only a company history but the personal story of his journey up the corporate ladder. He takes us from his early days in Oklahoma to his frequent battles with the legendary head of the firm, Cy Lewis, and his disdain for recent CEO Jimmy Cayne. He tells of unusual company practices including reviewing partners' tax returns to enforce the company policy mandating charitable donations and encouraging whistle-blowers, even if claims later prove false. Greenberg's narration is a matter-of-fact recounting, without embellishment and oddly blanched of the color, drama, apprehension, and tension one would expect in a company and industry dominated by such powerful egos and enduring such powerful upheavals.(July)Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.