The Rise and Fall of Bear Stearns
Alan C. Greenberg
When trust evaporates and doubt enters
The world of finance is no stranger to metaphors. For instance, ‘toxic waste' can describe ‘the lowest rated and potentially least liquid class of securitised sub-prime mortgage debt,' and ‘sausage factories' can be ‘the cynic's definition of investment banks that packaged and sold bundles of pooled mortgage-backed securities,' as Alan C. Greenberg mentions in The Rise and Fall of Bear Stearns.