At The Deal's Fifth Annual Private Capital Symposium, Gary Parr, vice chairman at Lazard, gives his perspective on the fall of Bear Stearns Cos.
"There was a run on the bank." "None of us," he said, "has ever seen anything like this. ... In the span of two days, money market funds that were holders of short term funding for Bear Stearns ... decided, 'I don't want to hold this name anymore.' "
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