Bear Stearns' MBS Desk, incented in part by the prospect of watching their boss, Tom Marano get his hair and beard shaved if they raised more than $250,000, donated $316,000 for the Intrepid Museum's Fallen Heroes Fund, which donated 100% of the proceeds to the families of military personnel killed during the fighting in Iraq and Afghanistan. Marano says he was at a concert with some friends in the military and "we were just trying to come up with some way to help. I wanted to make sure that all of the money got there and didn't get tied up in some bureaucracy." Marano says he sponsored a cocktail party at which a widow, who he had flown in with her three-year old daughter, described her husband's pride in fighting for the U.S. in Iraq. After the speech Marano says two things happened: "A bunch of really hard-assed traders and sales guys were moved to tears and that in turn helped us to quickly get over $250,000."
Russ Middleton, a Ginnie Mae trader at Bear Stearns, declined to characterize Marano's new look. He did, however, note that "my Mom thinks he's hot."