After that, the men in the room rushed for the exits, apparently to sell their shares in Bear Stearns. By the time Alan Greenspan arrived to speak, there was hardly anyone who cared to hear what he had to say. The audience was gone. By Monday, Bear Stearns was of course gone, too, sold to J.P. Morgan for $2 a share.*
The atmosphere in the room shifted dramatically when men began to hurry towards the exits, eager to offload their shares of Bear Stearns. This panic signaled a major shift in confidence, leaving little interest in hearing Alan Greenspan's forthcoming comments. The mass exodus reflected a profound sense of urgency and fear among investors.
By the following Monday, the situation escalated beyond recovery for Bear Stearns, culminating in its sale to J.P. Morgan at a mere $2 per share. This swift decline highlights the volatile nature of the financial markets and the rapid changes in investor sentiment, marking a significant moment in the lead-up to the financial crisis.
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Race of Cain, ascend to heaven, And cast God down upon the earth!
