As their website puts it:
"Smart? Relentlessly driven? Refreshingly honest? We think you'll like it here. Bear Stearns people aren't into corporate hierarchy. Sure, they enjoy the prestige of working at a leading global investment banking, securities and brokerage firm. But they thrive on an unusual attitude here that allows room for creative thinking, rather than being limited by "that's-how-it's-always-been done." "
Maybe they should have paid more attention to how it has always been done.