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.