To make a poorly thought out decision that results in a catastrophic failure or demise of one or many people.
To plummet from the top to the bottom at a blinding speed only to be bought out and liquidated by someone else.
fuck up spitzer
"Hooking up with her was a total Bear Stearns."
"I partied all weekend instead of studying; it was a total Bear Stearns"
"Dude, I stopped paying my bills and got totally Bear Stearns'd"
A colossal failure where an enormous success was expected.
The 18 - 0 New England Patriots totally pulled a bear-stearns in Super Bowl XLII.
The Patriots bear-stearned before Bear Stearns bear-stearned.