SEC cox said a few days ago everythink OK

Discussion in 'Wall St. News' started by Aaron Copland, Mar 14, 2008.

  1. We are reviewing the adequacy of capital at the holding company level on a constant basis, daily in some cases," SEC Chairman Christopher Cox told reporters on Tuesday after a news conference on greater cooperation with the Commodity Futures Trading Commission.
    "We have a good deal of comfort about the capital cushions that these firms have been on," he said.
  2. Maybe he was short them. I'd be pretty comfortable then too ...
  3. You don't seem to realize that a "run on a bank" and the counter-party risk that is associated with that can occur in a period of 24 hours. It can happen that quick.

    If it didn't happen that quick, then there would be no need to call up the FED at a moment's notice and say we need HELP!

    It's very possible that BSC was in fact "stable" back on Wednesday when their CFO Alan Schwarz expressed confidence in their $17 BILLION dollar cushion on Bear's balance sheet.

    When counter-party trades don't get cleared a lot can happen in 48 hours.

    Believe it.