New York News Blog has a quickie history of Bear Stearns
• 1998: Bear Stearns, now under the watchful eye of Jimmy Cayne, is the one investment-bank holdout in the Wall Street–led rescue of collapsed hedge fund Long Term Capital Management. This move (along with Cayne’s comment that they ought to “let them fail,” as recorded in Roger Lowenstein’s When Genius Failed) will prove ironic later
Read the whole thing for some really snarky goodness (or should it be really good snarkiness?! heh).