FINANCE
• Hours after Bear Stearns's Alan Schwartz agreed to sell the firm to JPMorgan for $2 a share, senior trader Alan Mintz confronted the chief. "How could this happen to 14,000 employees?" Mintz demanded. "Look in my eyes, and tell me how this happened!" The problem is that Schwartz still isn't sure. [WSJ]
• Is Lehman Brothers going to hit up the Fed for a Bear Stearns–esque bailout? [DealBreaker]
• Goldman Sachs, Lehman Brothers, and Morgan Stanley had their second-quarter profit estimates chopped in half. [Bloomberg]

MEDIA
• There's sibling rivalry between NBC and MSNBC, which both live under their parent's roof at 30 Rock. [HuffPo]
• Just in time for summer, Hamptons magazine turns 30 years old. [WWD]
• Meanwhile, Wired founders Louis Rossetto and Jane Metcalfe are psyched that the magazine has been around for fifteen years. "When we started Wired, we didn't think probably more than a few weeks ahead," Rossetto said. [WWD]

REAL ESTATE
• The resale value on trophy apartments in 15 Central Park West could be more than $100 million. [NYT]
• The father-son duo behind real-estate empire Macklowe Properties, Harry and William Macklowe, avoided financial collapse by selling the General Motors Building to Mort Zuckerman this weekend. Now William is going to take over the company. [WSJ]
• Building projects around the city are falling apart because of uncertain financing owing to the economic downturn, so developers are trying to lure corporate tenants by offering tax breaks and redesigns. [NYS]