Will Bear Stearns Survive?

After significant margin calls this week, Bear Stearns saw its liquidity dry up almost overnight, to a point where, if it didn't receive funds this morning, it would have closed for business.

The question is: will it survive even past this week? I think the answer is no. The bigger question is whether the markets get spooked enough to find its next target on which to give a no-confidence vote. Unfortunately, the Wall Street firms are only as liquid as investors' perceptions.