Bloomberg has a great piece on the "lone gunman" theory of Bear Stearns's near collapse. Options traders bet $1.7 million that the share price of the country's fifth-largest bank would fall by half in a little over a week—a move analysts are saying smacks of insider trading that could have netted something like $270 million in profit.
Meanwhile, the Economist taps an unnamed risk manager for a less nefarious (but no less important) look at what bankers were doing as the credit crunch began to loom (hint: not enough).
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