Graphic novels are generally targeted toward a market the could best be described as anime freaks: junior high and high school kids who shop at Hot Topic, listen to bad music, and read graphic novels.
For reasons that aren't immediately clear, Portfolio decided to make the collapse of Bear Stearns Co. Inc. (NYSE: BSC) into a graphic novel, focusing on the days leading up to the fire-sale to the Fed-back JPMorgan Chase & Co. (NYSE: JPM). It's a neat idea but, by focusing exclusively on the company's last days, the comic portrays Bear's collapse as a run on the bank caused by malicious and unfounded rumors. The reality is that Bear made huge, risky bets on bad securities, and collapsed because of mismanagement. A "run on the bank" may have had something to do with it, but that's always the case: companies don't go under until people stop giving them money.
But in a financial press with a lot of very similar content, we should at least give Portfolio props for doing something a little different.
A Bear Stearns graphic novel
Posted Jun 16th 2008 6:26PM by Zac Bissonnette
Filed under: Scandals, Bear Stearns Cos (BSC)
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