What Bear Stearns could have done to prevent its own destruction

didn't know where to post this, so just posted it here. I know it has been touched upon in other places but I wanted to focus on the details.

What could BSC management have changed about the way they do business in the last several quarters in order to prevent the collapse that occured?

I know that they should have looked well into increasing the firms capital base, emergency liquidity, and reducing its net repo liabilities. Then go from there. Was there anything that prevented them from doing so?

One of the points often brought up is that Bear was just too small of a firm and too concentrated in fixed-income and mortgages to survive. Yet was there seriously any hope of diversifying in the last year, once the fear of a credit crunch became very real?

Please don't say "maybe Cayne shouldn't have smoked up and played bridge". I am positive that for every fuck up at Bear there were 10 intelligent employees who could have done something for the firm's long-term growth and balance sheet health.