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Bear Stearns CEO Wasn't Lying; Neither Was Enron's Skilling

Posted Mar 19, 2008 04:14pm EDT by Henry Blodget in Investing, Newsmakers, Banking
Related: bsc

Much is being made of whether Bear Stearns CEO Alan Schwartz lied last Wednesday when he made reassuring comments about the health of his firm on CNBC. Watch it here.

Andrew Ross Sorkin of the New York Times says this is a classic case of a run on the bank. He sees striking similarities between what happened at Bear Stearns and at Enron. And he takes it one step further: Sorkin says he believes executives at both companies were telling the truth when they told the public all was well at their companies.

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