Viewpoint: Bear Stearns and a Crisis Averted — But For How Long?

``Bear Stearns was clearly one such “wrong financial institution,” a counterparty to nearly every major financial firm in the world, which is why the Federal Reserve did its job and stepped in immediately to prevent what might have been an unraveling of the entire space-time continuum had it not done so. (Or at the very least, a financial meltdown that would rival anything thrown at us on Black Monday.)''