"Panic Kills Bears" - Insider Accounts of the True Origins of the Financial Crisis

US Treasury Secretary Hank Paulson could kneel for the $700 billion bailout fund, but let Lehman Brothers fail without intervention. What was the reason? Saving Goldman Sachs, ignoring Lehman Brothers, retaliating against Bear Stearns... What were the signs before the financial tsunami?

One of the authors of this book, Bill Bamberg, once served as Senior Vice President of Bear Stearns. As a witness to the onset of the crisis, he shares his unique perspective on how Bear Stearns gradually collapsed irreversibly due to what seemed like an absurd rumor, revealing numerous shocking insider stories.

From the US Treasury's inaction to Treasury Secretary Paulson's seemingly subtle "retaliatory" actions; from Bear Stearns being the first to fall despite not needing to, to the panic where rumors became truth; from China's CITIC Securities' previous contact to JP Morgan Chase's forced acquisition at a fire-sale price of $2 per share under US government orders... These inside stories are worth exploring!

**Killed by Panic - Part One**

The power of rumors is not to be underestimated. Gustave Le Bon, an industrious expert in mass psychology, knew as early as the 19th century just how powerful rumors could be. He clearly defined the basic conditions required to implant certain ideas or doctrines into the minds of the masses.

**Killed by Panic - Part Two**

On March 19, 1831, a man named Edward Smith entered Citibank on Wall Street. Even in the early 19th century, entering a financial institution in the heart of Manhattan was a common occurrence. However, Smith's method and timing of entry were unusual. It was Saturday, and the bank had already closed. Mr. Smith used a privately made key to enter the bank and withdrew $245,000 from the vault — a fortune that many people could only dream of earning in their lifetime. Mr. Smith was soon arrested and sentenced, spending five years in the newly built Sing Sing prison in New York.

**Killed by Panic - Part Three**

In this world where news networks report around the clock seven days a week, rumors never cease to emerge. News networks repeatedly broadcast false information until companies are destroyed. Is the reason so simple? The answer is not, but it is a good starting point.

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