Dude Who Didn’t See Risk To Bear Stearns Prior to Bankruptcy Will Aid Government In Missing Threats to the Entire Financial System
You might think the guy who was in charge of assessing risk leading up to one of the biggest bankruptcies in Wall Street history would have trouble finding a job in his field.
You would be wrong.
Michael Alix, the former chief risk officer of Bear Stearns who’s savvy assessment of that firm’s financial dealings led to the company losing over 95% of its value in less than six months, is now a top banking regulation adviser for the Federal government.
You just can’t buy that kind of expertise unless you’re willing to spend taxpayer dollars to do it.
In other news, the government announced the new official in charge of overseeing all confiscated drug contraband and paraphernalia for the ATF will be Amy Winehouse.
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It’s either the Bear Stearns stock chart or an economic prediction…
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Photo credit: AVDFN.com
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[...] tip to Mark at Biz Levity who turned me on to this news item and so hilariously skewered [...]
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