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Bear Stearns’ influence remains 15 years after its collapse: ‘The bank had your back’

On the anniversary of its landmark collapse, FN speaks to former executives about the power Bear Stearns still holds

Bear Stearns’ downfall is well-chronicled and often viewed as a footnote to the 2008 global financial crisis, but its legacy endures today
Bear Stearns’ downfall is well-chronicled and often viewed as a footnote to the 2008 global financial crisis, but its legacy endures today Photo: James Leynse/Getty Images

In 2020, as the world went into lockdown, a group of former Bear Stearns bankers started a Zoom networking group.

As the pandemic went on, ex-employees including Goldman Sachs chief executive David Solomon and David Malpass, the president of the World Bank, made presentations to the 200-strong gathering, according to people with knowledge of the matter.

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