Meanwhile, back in New York, word has spread among the lesser classes that the ship may be sinking, prompting stock-division head Bruce Lisman to climb atop his desk and bellow a phrase that would all too soon prove ironic: “Bear Stearns has been here a long time, and we’re staying here.” And Ace Greenberg, Bear Stearns’s 80-year-old former boss, “attempted to break the tension in a lighter way.”
Wearing his trademark bow tie, Mr. Greenberg, who still trades, performed magic tricks to amuse colleagues. At their request, he also reprised a scene from company lore: He practiced a golf swing on the trading floor, just as he had on Black Monday 1987, when world markets crashed. Mr. Greenberg, who doesn’t play the game, had famously pretended to swing a club and loudly announced he was taking the next day off.
Hilarious! Of course, as in an episode of C.S.I or Titantic, you know the ending to this story: Bear ends up dead. But thanks to the Journal, its heart will go on.