BULLISH BEAR NEW PREZ NEEDS TO GROW CAPITAL BASE August 8, 2007 -- Bear Stearns might have a new president in Alan Schwartz who can rally the troops after a series of humiliating miscues and snafus, but the firm's hope of recovery rests on its vulnerable and modest capital base. A firm noted for its scrappy and entrepreneurial bent, Bear is going to need more than its wits to navigate the global credit meltdown that is striking at its core franchises: mortgage-backed securities and prime brokerage. According to Bear's most recent quarterly filing, with a capital base of $13.3 billion, Bear has to support over $423 billion in assets - $200 billion of which is securities and so-called mortgage- and asset- backed special purpose entities. More: http://www.nypost.com/seven/08082007/business/bullish_bear_business_roddy_boyd.htm