Timing Is Everything

Lehman pukes up a $3 billion convertible today. I’m starting to wonder more and more if the Bear Stearns panic had been delayed by a couple of weeks, if it too couldn’t have worked out a better deal. I worked at Bear years ago and it’s sad to see it go the way that it did. Please don’t let Ben Bernanke negotiate the sale of my house if I ever get into a jam.

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