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Message: <blockquote data-quote="GusTsahas" data-source="post: 14859" data-attributes="member: 29">I was working for Lehman Bros. when Drexel went out of business at the end of the junk bond era.    What shocked me then was the speed of the collapse.  In December they handed out nice big fat bonuses and the world was fine and in the Spring they went out of business.  By the time Drexel hit the headlines, it was over in a week and Bear looks to be heading off at the same pace.The difference is Bear being in the fixed income/mortgage space has an ally in the Fed as they have an interest in seeing this resolved while Drexel was viewed more as a parasite feeding on weak American corporations and not a useful member of the club.</blockquote>