Failing to Heed the Lessons of Enron

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1 Response

  1. Jay Levitt says:

    Is it that surprising, though?

    Bear Sterns failed because it couldn’t manage money.

    Bear Sterns is composed of its employees. Therefore, those employees, collectively, couldn’t manage money.

    Why would we expect them to make wise investment decisions with their own money? They’re demonstrably no good at that very task.