[QUOTE=Cheesesteak]
You do realize that was mentioned a few posts back. The guy lost $950 million dollars. Not to mention that even if his stock was worth $0, he’d still have millions socked away in other investments, unless he’s the single most financially inept CEO of a Wall Street firm in the history of finance.
The firm still actually has value, and he owned a piece of it. They own a great many things that are worth money, they just don’t have the cash to handle their obligations. Eventually, all of it would be liquidated, the firm broken into itty bitty pieces, and he’d get his millions from what was left over. In the process, people lose their jobs, other companies take a hit when expected Bear Stearns cash doesn’t arrive, and have to figure out how to manage their own obligations. It’s a mess, and a ton of people inside and outside of Bear Stearns will get hurt.
If all you’re interested in is ensuring that the Bear Stearns execs get fucked as hard, and for as long as possible, that’s fine. Just realize that you’re also going to be fucking a bunch of retirees, employees and everyone who had the misfortune of doing business with Bear Stearns. Is that of any concern to you, or are you just mad that this particular rich guy isn’t going to be living under a bridge next year?
[/QUOTE]
He lost nothing. he sold stocks for 60 mill. That is money in his pocket. The fact that the stock was once selling for 170 means nothing,. A stock is worth what you can sell it for. He lost nothing. He made 60 million