Nobel Laureate Myron Scholes: Shocked by Bear Stearns Collapse But Still Optimistic About Economy
He said the market shock in March triggered by the near-collapse of Bear Stearns “far exceeded” what he had anticipated.“This is not over yet. We will potentially see more failures,” he told an audience of some 300 GSB alumni and finance professionals June 23. “There are still a lot of consequences that have to be worked out.”
