First on Fox Business, the author of the first tell-all memoir on the fall of Bear Stearns (BSC)went public for the first time today. Bill Bamber, a former Senior Managing Director of Equity Derivatives atthe doomed investment bank,revealed his identity on "Money For Breakfast" this morning.
Up until today,Bamber had remained anonymous, all the while penning what it was like on the inside of Bear Stearns during those 5 fateful days in March when the company went from being the nation's fifth largest investment giant to collapsing to the point where it was sold for a pittance to JP Morgan (JPM). But perhaps what will be most interesting to readers is that Bamber predicted in "Bear Trap" that the day Bear was sold to JPM for (at the time) $2 dollars a share, he and Bear colleagues decided that Lehman Brothers (LEH) would be the next to go, and the Merrill Lynch (MER). As we now know, Lehman filed for bankruptcy on Monday and Merrill's been bought by Bank of America (BAC).
It's a scary tale of a fast demise and Bamber told our viewers first about his experience First on Fox Business. See the fascinating details below.