Bear-Trap: The Fall of Bear Stearns and the Panic of 2008

Now more than ever this book should be required reading in every American High School. Prior to reading this book listening to business commentary was like listening to a square dance mc. In a square dance everyone seems to know just what to do, and when to move, but for me, a native new yorker, it's just jibberish. So I was worried when i picked up this book that I wouldn't be able to understand what the hell the author was talking about. But was I wrong! The author did an exceptional job explaining to me, a person who never took a class in business, how an investment bank works. Now I know what leverage is and what hostile takeovers are, and now when i watch business news and they they talk about CDOs, and LIBOR, and basis points, I know what they are talking about. The author also did an exception job explaining exactly what a sub prime mortgage is, and I know that a lot of Americans hear this word every day, and don't really know what they are and how they helped cause a lot of the problems that are occurring today. So to all my fellow Americans you must go out and read this book, now more than ever it's imperitive that we learn about the basics of banking so we can make informed decisions about our economy, and dance to the rewards

As a former Bear sales-trader who was there through the end, I can attest that Bamber's description of what life was like at the firm is accurate. The description of a "typical" Bear employee to the fast pace at which events transpired the week of March 14th is right on the money. The book provides others the opportunity to read a step-by-step account of life on a trading floor through the days that led to Bear's demise. The Book helps answer the question, what was it like to be amidst "the event" that would eventually lead to a transformation of our entire financial system. There will be many books and articles about the events at Bear Stearns and the likes of Lehman, Merrill, etc. However, Bear Trap provides a first, interesting and entertaining ride through the eyes of an individual who was witness to it all. Well done Bill.

Great book! I thought the author did an excellent job of really capturing the mood of the events. The book does a great job of making the reader feel like they are actually involved in the events as they unfold. Its a nice mix of facts, plot, explanations, and history written in a style that is more anecdotal rather than like a textbook. Even if you have no interest in finance, the book reads like a novel and makes you wonder what is going to happen next. I was actually working at the same company in the same area as the author, and I enjoyed the book so much I had a hard time putting it down. It brought back memories and told the story in such a way that I cannot recommend the book enough.

In the year of financial panic and economic mistrust, a book that finally explains in detail what happened - and as we now know, has also happened to two more great institutions. Bamber did an incredible job of detailing step-by-step how this giant corporation was brought to its knees. You feel as though you are taking the ride down with him and experience every nail-biting, anxious moment. I would rather get credible facts from an "insider" who knew exactly what was really going on, than getting the media's mixed version of events. Everyone, especially those in the financial arena, needs to read this book and learn from it. Thanks, Mr. Bamber, for clearing up a lot of questions and for giving the public such a detailed account of the truth behind the scenes.

Great book! I was excited to buy the book after hearing about it from friends who formerly worked at Bear. As someone with an interest in research on organizations that experience large-scale change, I was pleased to find the book both informative and entertaining. I loved the biting humor that appears throughout. I felt like I was right there with Bamber on the desk and it was great to relive the collapse from the inside! I noticed that some of the negative reviews complained that Bamber did not seem to contribute new knowledge to that which we already heard in the media. I believe Bamber's purpose may have been misunderstood. Bamber did not claim to have worked in the asset management division or alongside the hedge fund managers. From my reading of the book, I understood his purpose to be more of a memoir of his experience as one of roughly 14,000 employees who worked at the Firm and whose life was affected by the crisis- and that I believe he accomplished well!