SEC Chairman Cox says customers of Bear Stearns were not at risk
At the Senate Banking, Housing, and Urban Affairs Committee hearing on “Turmoil in U.S. Credit Markets: Examining the Recent Actions of Federal Financial Regulators,” SEC Chairman Christopher Cox says despite the run on the bank to which Bear Stearns was subjected, at no time during the week between March 10-17 were its customers at risk of losing their cash or their securities. (:18)
April 3, 2008
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Related
- Fed called to answer for bailout of Bear Stearns
- Chairman Bernanke says default would not have been confined to financial system
- Financial regulation lessons learned by the SEC and Congress
- SEC Chairman Cox says there would have been additional pressure in real economy
- Under Secretary Steel says all Americans bear consequences of a system under stress
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