Bear Trap – The Fall of Bear Stearns and the Panic of 2008 (Brick Tower Press, New York) is a book that every individual, especially those in the financial quarters, should read. There is no doubt this book is controversial; The publisher released the book a week early due to the swelling market panic – and understandably so given the fact that the author, Bill Bamber, was a senior executive of Bear Stearns. Written with the help of Andrew Spencer, the author takes the reader on a step-by-step, downward spiral of this giant corporation that began March 10, 2008 through its final demise and takeover. The book predicts the fall of Lehman Brothers and Merrill Lynch and describes the transactions leading to their demise. The public will get to be on the “inside” and get the true facts from someone in the know whether the company was, in reality, financially finished or was it all a big rumor-mongering, manipulative ploy to allow a far-sighted predator to make a killing? A lot of the unanswered questions about the downfall of this historical institution get answered, and the reader gets to feel the fear of every action that took place in the offices of this corporate giant during its final days. In a business based on confidence – it is evident that when the confidence fades so does the business.

This book tells it all and places the blame where it rightly belongs. It imparts the anguish of employees when the reality sets in that they have lost it all – giving them no choice but to accept that “The Bear was dead.” In light of what is happening in the global, financial
community today – this book is a must-read! www.beartrapbook.com

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David Carr, Regional Manager for London at Hays Insurance, said: “Whilst many commentators are saying there is a slowdown in activity within the insurance industry, we haven’t seen this to be the case. We put this rise in recruitment down to a re-prioritisation of the roles that insurance companies are hiring for. They are hiring more staff in roles where people are either protecting or generating revenue. Although our clients are being more cautious than ever when making decisions on recruitment there are some very good jobs out there at the moment that would suit ambitious jobseekers.“

Roland Seddon, Regional Director at Hays Senior Finance, commented, “Over the last two months we have seen a sharp increase in demand for senior level candidates in the Insurance sector, and over 20% of our role registrations in 2007/08 have been in the last 8 weeks.”

Hays Insurance has recently filled some high profile roles in the capital, including senior positions within a Big 4 consultancy firm, senior underwriter jobs within global insurers and director roles in specialist insurers and brokers. In fact, given the current Hays Recruitment figures on the state of the market, the insurance sector appears to possibly be benefiting from the present credit crunch.

Carr observed: “We have also noticed a vast increase in temporary and contract placements for experienced qualified individuals, which has highlighted the importance of the senior interim market during such uncertain times – and illustrates the value that the industry is placing on experienced people that can come in and offer something different.”

About the Company:

Hays Insurance is a subdivision of Hays Plc, the FTSE 250 Company which employs 7,753 staff operating from 376 offices in 27 countries across 17 specialisms. Hays Plc placed circa 68,000 candidates into permanent jobs and paid circa 46,000 temporary workers weekly during the year ending June 07.

For further press information please contact:
Danny Jack
Assistant Marketing Manager
Hays
Charter House
13-15 Carteret Street
London

International investors and banks have been avoiding lending projects to poor countries, said the BIS, a bank and a forum to the world’s central banks.

“The immediate effect of the tragic events was to… induce investors to shift into less risky assets,” the BIS said.

“Debt issuance by emerging market borrowers declined… while bank lending to these debtors also showed signs of a slowdown.”

So, “this attitude of persistent medium-term optimism did not extent to emerging economies,” the BIS said.

Economic Crisis

In 2008, the possibility of an economic crisis was suggested by several important indicators of economic downturn worldwide. These included high oil prices, which led to both high food prices (due to a dependence of food production on oil production) and global inflation; a substantial credit crisis leading to the bankruptcy of several large and well established investment banks; increased unemployment; and the possibility of a global recession developed.