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Similarities between Bear Stearns and Enron?

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The notion that Bear Stearns and Enron both were felled by panicked runs has been floating around recently. It's a tough issue. Enron's fall was preceded by massive fraud (according to the Lay and Skilling verdicts anyway) to inflate earnings. When the castle started falling, investors panicked. In the case of Bear Stearns, there has been no suggestion of massive corporate fraud. Still, you have to wonder what good Sarbanes-Oxley is if it can't prevent these sorts of meltdowns. There seems to be a real disconnect when it comes to the risk Bear Stearns exposed itself to, but this is a problem that reaches beyond either case.  

For more:
- here's an article from the Houston Chronicle

Related Articles:
Ghost of Enron still haunts Wall Street. Article
Bear Stearns: A timeline of decline. View timeline

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