Why Goldman Sachs couldn't save Bear Stearns

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"Street Fighters," by Kate Kelly, erstwhile reporter for the Wall Street Journal, is generating some buzz in the industry. The book chronicles the 72-hours leading up to the shotgun marriage of Bear Stearns and JPMorgan Chase.

The New York Post offers one interesting episode from the book: Goldman Sachs apparently was hankering to swoop in as a white knight. But they couldn't get in the door--sometimes literally--because Bear Stearns executives, such as CEO Alan Schwartz were just too suspicious. They feared Goldman's efforts at due diligence would give up the kind of information that might induce Goldman to bet against it.  

For more:
- here's the article

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