Lifted from comments Brad DeLong style:
Reader howard says:
The issue is whether Bear Stearns management in the days and weeks leading up to this collapse exercised sufficient due diligence and managerial oversight, whether they should have for seen problems through greater rigor and controls, and whether they should have therefore not ended up in a forced sell environment or in an all-or-nothing forced sale environment.
Update: Maybe a better title would be “If I were a stockholder”. If you are out there, or if you have a friend who is willing to comment, send him/her over.