Bear Stearns Allegedly Offers $3.2 Billion to Avert Fire Sale

“For the sake of its reputation, Bear needs to put this behind it as soon as possible,” said Peter Goldman, who helps manage $600 million at Chicago Asset Management, including shares of Bear Stearns. “The firm might take on some of the risk of the fund they didn’t have before, but they’re a bond shop and they wouldn’t take on risk they shouldn’t.”