Deals
Bear Stearns Thrives in Diaspora Giving to Sheryl Crow Tune
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Three years after the collapse of Bear Stearns Cos., which helped fuel the worst financial crisis since the Great Depression, former bond executives of the firm are running businesses at one-time rivals, including Bank of America Corp. and Goldman Sachs Group Inc.
Alumni of Bear Stearns, which has been accused in lawsuits of building faulty mortgage securitizations, have contributed to a Wall Street rebound. Profits at broker-dealers totaled $89 billion in 2009 and 2010, the best two years on record, according to New York state’s comptroller.