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Ex-Bear Stearns exec now works for Fed
Michael Alix, the former chief risk officer at investment bank Bear Stearns Cos., which nearly collapsed in March, is now a senior official of the Federal Reserve division that supervises U.S. banks. The appointment is apt to raise questions because of the key role Alix played at Bear Stearns and given the Federal Reserve's role in Bear Stearns' sale to JPMorgan Chase & Co. (JPM) (JPM) after its breathtaking slide. "That's incredible," said James Cox, a Duke University law professor and securities law expert. "This is not reassuring. ... What is there in this person's experience and skill package" that qualifies him for the Fed position? Maybe he needed a job? Posted by: Anguper Hupomosing9418 2008-11-05 |
| http://www.rantburg.com/poparticle.php?ID=254438 |