Thursday, April 3, 2008

Unintended Sports Casualities (on Wall Street?)

By now, we've all read about our wonderful(ly ineffective) government's bail-out of the giant investment firm Bear Stearns last week. YEA, it was necessary for the U.S. economy to prevent future collapsing...and ABSOLUTELY, a sweet deal for competitor J.P. Morgan who picked up the company at bargain prices you wouldn't even find at the Barney's Semi-Annual Warehouse Sale.

But what about the unintended casualties of the bail-out, like the Bear Stearns' Lacrosse Team?! In a front page story, today's Wall Street Journal examined the bloody corpses that may be left behind.

Among the remaining questions hanging over Bear Stearns Cos. is this: What happens to its lacrosse team?

On ultracompetitive Wall Street, lacrosse-loving traders are keenly watching the fate of the battered firm's squad. Bear Stearns vanquished rival Lehman Brothers Holdings Inc. in triple overtime and then upset Credit Suisse First Boston last summer to win bragging rights in the Street's inaugural Gotham Lacrosse tournament.

"I had a couple buddies [at Bear Stearns] who gave me a hard time," says Chad Burdette, Trinity College '06, who is now at Lehman's private investment-management division and is the Lehman team's informal manager. "I guess I got the last laugh now," he jokes.

We here at HHR wish the players of the Bear Stearns' Lacrosse Team...who individually make more than the entire HHR staff collectively...the best of luck in their pick-up league during this difficult time.

(hat-tip to HHR reader/Woody colleague MAB for forwarding this story on)

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