Did Bear Stearns really need to go down in flames? It's a question that needs to be asked, and my answer is no.

Of course, I don't know the value of Bear Stearns's assets, and whether they could have served as collateral for private or government loans. So I cannot be entirely certain that my answer is correct. But here's how I see it:

Since the elimination of the Glass-Steagall Act in 1999 — a move that broke down the wall separating commercial and investment banks that h ...

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