I wrote a short piece for Slate yesterday on why the Fed had to bail out Bear Stearns. It's a bit simplified if you've been digesting every piece of news that comes down the pipe about the story, but if not, and you want to know why your taxpayer money should be going to Bear (or JPMorgan, as it were), take a look for a quick explanation. (The short answer: when choosing between catastrophe and apocalypse, one generally picks catastrophe.)
Bear Run [Slate]
Posted by Elizabeth Spiers at March 18, 2008 10:42 AM