Bear Stearns' demise

March 12, 2008: Bear Stearns' chief financial officer, Sam Molinaro, presses his fingers against the side of his face, worrying about what trouble the next day will bring.

"This was the worst day of his twenty-two-year career, without a doubt," author Kate Kelly says. "We're cooked, he thought. Not only will Bear have to be sold to J.P. Morgan or some other deep-pocketed bank, but we may not even be able to open the doors tomorrow.

'Guys, I don't know what our options are here,' Molinaro finally said. "I think we're about out of options.'"