Every crisis has a name.
Remember John Meriwether? The guy from Long Term Management Capital.
Remember Nick Leeson? The guy from Barings Bank.
Probably you will listen to this name: Warren Spector. Why? Because of this: The Wall Street bank’s board (Bear Stearns) is reported to be meeting on Monday to consider the future of Warren Spector, its co-president and head of capital markets. One analyst said that if Bear made no statement before the markets opened on Monday investors would fear there was “more bad news to come”.
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