I Don't Know

“Twelve hours after agreeing to sell Bear Stearns Cos. for $2 a share, Alan Schwartz wearily made his way to the company gym for a much-needed workout.

“It was 6:45 a.m., March 17, and Bear Stearns's chief executive had slept little since hammering out the ugly details of his fire-sale deal with J.P. Morgan Chase & Co.'s chief executive had slept little since hammering out the ugly details of his fire-sale deal with

“When Mr. Schwartz, already dressed in his business suit, trudged into the locker room, Alan Mintz, still in his sweaty gym clothes, made a beeline for the boss.

“‘How could this happen to 14,000 employees?’ demanded the 46-year-old senior trader, thrusting his face uncomfortably close to Mr. Schwartz's. ‘Look in my eyes, and tell me how this happened!’

“Two and a half months later, Mr. Schwartz still isn't quite sure. To Mr. Mintz and others, he has blamed a market tsunami he didn't see coming. He told a Senate committee last month: ‘I just simply have not been able to come up with anything, even with the benefit of hindsight, that would have made a difference.’”

(“The Fall of Bear Stearns: Lost Opportunities Haunt Final Days of Bear Stearns --- Executives Bickered Over Raising Cash, Cutting Mortgages.” Kate Kelly. The Wall Street Journal: May 27, 2008. pg. A.1)

IF IGNORANCE IS INDEED the beginning of wisdom, are you ready to start learning?

"Where have all the young men gone?
Gone for soldiers every one.
When will they ever learn?
When will they ever learn?"